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Brinno Q2 profit falls YOY

Brinno Inc. said its normalized net income for the second quarter came to 22 Taiwan cents per share, a decline of 35.4% from 34 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 NT$4.8 million, a decrease of 30.2% from NT$6.9 million in the year-earlier period.

The normalized profit margin dropped to 5.5% from 10.2% in the year-earlier period.

Total revenue grew 29.2% year over year to NT$87.0 million from NT$67.3 million, and total operating expenses climbed 43.6% on an annual basis to NT$79.7 million from NT$55.5 million.

Reported net income decreased 29.4% from the prior-year period to NT$6.4 million, or 30 cents per share, from NT$9.0 million, or 45 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.