TAIPEI - Netbook pioneer Asustek said on Tuesday it could turn to an operating profit in the current quarter as it works to turn around its business after two straight quarters of operating losses.

We should be able to turn an operating profit in the current quarter, Chairman Jonney Shih told reporters after the company's annual shareholders' meeting.

The company posted a large operating loss in the first quarter, but managed to eke out an overall profit thanks to one-time foreign-exchange related gains and profit at its subsidiaries.

Asustek previously said it expected to turn an operating profit in the third quarter.

(Reporting by Roger Tung; Editing by Nick Macfie)