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Ability Enterprise Q2 profit climbs 83.2% YOY

Ability Enterprise Co. Ltd. said its normalized net income for the second quarter came to 5 Taiwan cents per share, a gain of 75.0% from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$24.3 million, a gain of 83.2% from NT$13.3 million in the year-earlier period.

The normalized profit margin rose to 0.4% from 0.2% in the year-earlier period.

Total revenue declined 26.3% year over year to NT$4.94 billion from NT$6.70 billion, and total operating expenses fell 29.2% year over year to NT$4.73 billion from NT$6.68 billion.

Reported net income increased on an annual basis to NT$190.3 million, or 40 cents per share, from NT$18.2 million, or 3 cents per share.

As of Aug. 7, US$1 was equivalent to NT$31.73.