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Formosa Optical Technology Q1 profit climbs YOY

Formosa Optical Technology Co. Ltd. said its normalized net income for the first quarter came to NT$1.22 per share, a gain from NT$1.20 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$73.4 million, an increase from NT$72.1 million in the year-earlier period.

The normalized profit margin declined to 11.2% from 11.4% in the year-earlier period.

Total revenue climbed year over year to NT$654.1 million from NT$631.5 million, and total operating expenses climbed year over year to NT$612.7 million from NT$589.1 million.

Reported net income increased from the prior-year period to NT$99.8 million, or NT$1.66 per share, from NT$98.0 million, or NT$1.63 per share.

As of May 16, US$1 was equivalent to NT$32.63.