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Plotech Q1 loss narrows YOY

Plotech Co.Ltd. said its first-quarter normalized net income amounted to a loss of 19 Taiwan cents per share, compared with a loss of 44 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$24.1 million, compared with a loss of NT$58.0 million in the prior-year period.

The normalized profit margin climbed to negative 3.5% from negative 9.5% in the year-earlier period.

Total revenue grew 14.5% on an annual basis to NT$696.3 million from NT$608.0 million, and total operating expenses increased 7.3% on an annual basis to NT$749.7 million from NT$698.6 million.

Reported net income came to a loss of NT$71.3 million, or a loss of 55 cents per share, compared to a loss of NT$81.1 million, or a loss of 61 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.