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Largan Precision Q2 profit climbs 40.2% YOY

Largan Precision Co. Ltd. said its second-quarter normalized net income was NT$32.10 per share, compared with the S&P Capital IQ consensus estimate of NT$36.03 per share.

EPS rose 40.2% year over year from NT$22.90.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$4.35 billion, an increase of 40.2% from NT$3.10 billion in the year-earlier period.

The normalized profit margin rose to 31.6% from 31.1% in the year-earlier period.

Total revenue increased 38.1% on an annual basis to NT$13.78 billion from NT$9.98 billion, and total operating expenses climbed 37.5% from the prior-year period to NT$6.67 billion from NT$4.85 billion.

Reported net income rose 29.6% year over year to NT$4.82 billion, or NT$35.62 per share, from NT$3.72 billion, or NT$27.50 per share.

As of Aug. 12, US$1 was equivalent to NT$32.10.