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Advanced Semiconductor Manufacturing Q1 loss widens YOY

Advanced Semiconductor Manufacturing Corp. Ltd. said its first-quarter normalized net income amounted to a loss of 18.0 million yuan, compared with a loss of 515,000 yuan in the year-earlier period.

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

The normalized profit margin dropped to negative 12.2% from negative 0.3% in the year-earlier period.

Total revenue fell 15.2% year over year to 147.3 million yuan from 173.7 million yuan, and total operating expenses fell on an annual basis to 178.6 million yuan from 181.0 million yuan.

Reported net income totaled a loss of 28.7 million yuan, or a loss of 2 fen per share, compared to a loss of 824,000 yuan, or a loss of 0 fen per share, in the prior-year period.

As of May 18, US$1 was equivalent to 6.54 yuan.