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Optimax Technology swings to loss in Q1

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Optimax Technology swings to loss in Q1

Optimax Technology Corp. said its normalized net income for the first quarter was a loss of 9 Taiwan cents per share, compared with 24 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$30.1 million, compared with income of NT$79.2 million in the prior-year period.

The normalized profit margin fell to negative 3.9% from 7.9% in the year-earlier period.

Total revenue fell 22.7% year over year to NT$778.0 million from NT$1.01 billion, and total operating expenses fell 10.1% from the prior-year period to NT$757.4 million from NT$842.4 million.

Reported net income came to a loss of NT$135.0 million, or a loss of 42 cents per share, compared to income of NT$152.2 million, or 47 cents per share, in the year-earlier period.

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