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Danen Technology Q1 loss narrows YOY

Danen Technology Corp. said its normalized net income for the first quarter amounted to a loss of 13 Taiwan cents per share, compared with a loss of 26 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$44.0 million, compared with a loss of NT$89.1 million in the prior-year period.

The normalized profit margin rose to negative 9.7% from negative 22.7% in the year-earlier period.

Total revenue rose 15.4% on an annual basis to NT$452.2 million from NT$391.7 million, and total operating expenses declined on an annual basis to NT$517.3 million from NT$531.8 million.

Reported net income totaled a loss of NT$71.8 million, or a loss of 21 cents per share, compared to a loss of NT$136.1 million, or a loss of 39 cents per share, in the year-earlier period.

As of May 3, US$1 was equivalent to NT$32.33.