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Nan-Yang Dyeing & Finishing Q1 profit climbs 45.0% YOY

Nan-Yang Dyeing & Finishing Co. Ltd. said its first-quarter normalized net income amounted to 22 Taiwan cents per share, an increase of 45.0% from 15 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$15.9 million, an increase of 45.0% from NT$11.0 million in the year-earlier period.

The normalized profit margin rose to 11.1% from 7.9% in the year-earlier period.

Total revenue increased year over year to NT$142.8 million from NT$138.9 million, and total operating expenses decreased 5.4% on an annual basis to NT$115.2 million from NT$121.8 million.

Reported net income increased 44.4% from the prior-year period to NT$21.6 million, or 30 cents per share, from NT$15.0 million, or 21 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.