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Global PMX Q1 profit falls YOY

Global PMX Co. Ltd. said its normalized net income for the first quarter came to 53 Taiwan cents per share, a decrease of 39.1% from 88 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$40.2 million, a decrease of 39.1% from NT$65.9 million in the prior-year period.

The normalized profit margin declined to 5.2% from 9.9% in the year-earlier period.

Total revenue grew 15.9% on an annual basis to NT$770.7 million from NT$664.7 million, and total operating expenses rose 23.7% on an annual basis to NT$695.8 million from NT$562.6 million.

Reported net income decreased 43.4% from the prior-year period to NT$48.9 million, or 65 cents per share, from NT$86.4 million, or NT$1.15 per share.

As of May 18, US$1 was equivalent to NT$30.49.