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INPAQ Technology Q1 loss narrows YOY

INPAQ Technology Co. Ltd. said its first-quarter normalized net income came to a loss of 29 Taiwan cents per share, compared with a loss of 29 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$28.8 million, compared with a loss of NT$30.4 million in the prior-year period.

The normalized profit margin fell to negative 4.5% from negative 4.1% in the year-earlier period.

Total revenue decreased 12.8% year over year to NT$644.5 million from NT$739.0 million, and total operating expenses declined 13.8% on an annual basis to NT$672.8 million from NT$780.8 million.

Reported net income came to a loss of NT$48.2 million, or a loss of 49 cents per share, compared to income of NT$105.5 million, or NT$1.01 per share, in the year-earlier period.

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