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Collins Q1 profit falls YOY

Collins Co. Ltd. said its normalized net income for the first quarter was 5 Taiwan cents per share, a decline of 52.8% from 11 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$10.8 million, a decrease of 52.8% from NT$23.0 million in the year-earlier period.

The normalized profit margin fell to 0.8% from 1.5% in the year-earlier period.

Total revenue fell 8.0% on an annual basis to NT$1.38 billion from NT$1.50 billion, and total operating expenses decreased 8.4% year over year to NT$1.35 billion from NT$1.48 billion.

Reported net income declined 61.1% on an annual basis to NT$14.7 million, or 7 cents per share, from NT$37.7 million, or 18 cents per share.

As of May 13, US$1 was equivalent to NT$32.68.