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Veeko International fiscal H2 profit climbs YOY

Veeko International Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 was 2 Hong Kong cents per share, a gain of 98.2% from 1 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 HK$49.8 million, an increase from HK$24.4 million in the year-earlier period.

Total revenue grew 26.2% on an annual basis to HK$1.13 billion from HK$899.1 million, and total operating expenses grew 22.4% year over year to HK$1.05 billion from HK$857.6 million.

Reported net income increased year over year to HK$66.4 million, or 3 cents per share, from HK$30.4 million, or 1 cents per share.

For the year, the company's normalized net income totaled 3 cents per share, a gain from 2 cents per share in the prior year.

Normalized net income was HK$75.8 million, an increase from HK$36.3 million in the prior year.

Full-year total revenue rose 23.3% year over year to HK$2.00 billion from HK$1.62 billion, and total operating expenses grew 20.2% year over year to HK$1.87 billion from HK$1.56 billion.

The company said reported net income increased on an annual basis to HK$102.5 million, or 4 cents per share, in the full year, from HK$45.8 million, or 2 cents per share.