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Largan Precision Q2 profit climbs 14.7% YOY

Largan Precision Co. Ltd. said its normalized net income for the second quarter amounted to NT$32.00 per share, compared with the S&P Capital IQ consensus estimate of NT$37.10 per share.

EPS rose 14.8% year over year from NT$27.87.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$4.30 billion, a gain of 14.7% from NT$3.75 billion in the year-earlier period.

The normalized profit margin rose to 38.0% from 37.4% in the year-earlier period.

Total revenue climbed 12.6% on an annual basis to NT$11.31 billion from NT$10.04 billion, and total operating expenses grew 11.6% from the prior-year period to NT$4.75 billion from NT$4.25 billion.

Reported net income increased 27.7% from the prior-year period to NT$4.71 billion, or NT$35.05 per share, from NT$3.69 billion, or NT$27.42 per share.

As of Aug. 11, US$1 was equivalent to NT$30.36.