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Shin Tai Industry swings to loss in Q2

4911918 said its normalized net income for the second quarter amounted to a loss of 27 Taiwan cents per share, compared with 19 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$15.6 million, compared with income of NT$10.9 million in the prior-year period.

The normalized profit margin declined to negative 58.8% from 17.3% in the year-earlier period.

Total revenue declined 58.0% year over year to NT$26.6 million from NT$63.2 million, and total operating expenses declined 51.4% on an annual basis to NT$31.8 million from NT$65.4 million.

eported net income came to a loss of NT$32.2 Shin Tai Industry Co. Ltd.