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Jean Co. Ltd. Q1 profit climbs 43.6% YOY

Jean Co. Ltd. said its first-quarter normalized net income was 11 Taiwan cents per share, a gain of 43.5% from 8 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 NT$26.2 million, a gain of 43.6% from NT$18.2 million in the prior-year period.

The normalized profit margin fell to 7.0% from 8.8% in the year-earlier period.

Total revenue grew 80.0% year over year to NT$374.7 million from NT$208.2 million, and total operating expenses increased 57.7% year over year to NT$334.5 million from NT$212.1 million.

Reported net income grew 64.9% on an annual basis to NT$43.8 million, or 18 cents per share, from NT$26.6 million, or 11 cents per share.

As of May 12, US$1 was equivalent to NT$30.75.