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Everspring Industry Q1 loss narrows YOY

Everspring Industry Co. Ltd. said its first-quarter normalized net income amounted to a loss of 16 Taiwan cents per share, compared with a loss of 19 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$35.3 million, compared with a loss of NT$40.0 million in the prior-year period.

The normalized profit margin rose to negative 15.3% from negative 18.6% in the year-earlier period.

Total revenue grew 7.3% on an annual basis to NT$231.0 million from NT$215.2 million, and total operating expenses rose 7.3% on an annual basis to NT$276.5 million from NT$257.7 million.

Reported net income grew on an annual basis to NT$32.2 million, or 15 cents per share, from NT$8.5 million, or 4 cents per share.

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