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Iron Force Industrial Q2 profit climbs 23.2% YOY

Iron Force Industrial Co. Ltd. said its normalized net income for the second quarter was NT$1.42 per share, compared with the S&P Capital IQ consensus estimate of NT$1.42 per share.

EPS increased 19.5% year over year from NT$1.19.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$104.9 million, a gain of 23.2% from NT$85.1 million in the prior-year period.

The normalized profit margin rose to 11.6% from 10.5% in the year-earlier period.

Total revenue rose 11.5% year over year to NT$901.9 million from NT$809.0 million, and total operating expenses rose 14.5% from the prior-year period to NT$766.3 million from NT$669.0 million.

Reported net income grew 13.6% from the prior-year period to NT$113.3 million, or NT$1.53 per share, from NT$99.7 million, or NT$1.39 per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.