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MJ International Q2 profit falls YOY

MJ International Co. Ltd. said its normalized net income for the second quarter was NT$1.90 per share, a decline of 12.7% from NT$2.17 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$112.5 million, a decline of 12.8% from NT$129.0 million in the year-earlier period.

The normalized profit margin declined to 11.8% from 16.1% in the year-earlier period.

Total revenue increased 19.0% year over year to NT$952.8 million from NT$800.8 million, and total operating expenses climbed 15.5% from the prior-year period to NT$794.3 million from NT$688.0 million.

Reported net income fell 21.9% from the prior-year period to NT$140.4 million, or NT$2.37 per share, from NT$179.8 million, or NT$3.03 per share.

As of Aug. 15, US$1 was equivalent to NT$31.33.