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E Ink Holdings swings to loss in Q1

E Ink Holdings Inc. said its first-quarter normalized net income was a loss of NT$110.0 million, compared with income of NT$3.5 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 4.5% from 0.1% in the year-earlier period.

Total revenue declined 7.6% on an annual basis to NT$2.50 billion from NT$2.71 billion, and total operating expenses declined 5.9% year over year to NT$3.00 billion from NT$3.19 billion.

Reported net income totaled a loss of NT$251.0 million, or a loss of 22 cents per share, compared to a loss of NT$166.7 million, or a loss of 15 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.