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Joinsoon Electronics Manufacturing Q1 loss narrows YOY

Joinsoon Electronics Manufacturing CO. LTD. said its normalized net income for the first quarter amounted to a loss of 19 Taiwan cents per share, compared with a loss of 20 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$16.2 million, compared with a loss of NT$17.1 million in the prior-year period.

The normalized profit margin rose to negative 2.8% from negative 3.6% in the year-earlier period.

Total revenue climbed 20.9% on an annual basis to NT$572.7 million from NT$473.8 million, and total operating expenses rose 18.7% year over year to NT$592.5 million from NT$499.4 million.

Reported net income came to a loss of NT$28.0 million, or a loss of 32 cents per share, compared to a loss of NT$27.7 million, or a loss of 32 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to NT$32.56.