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Mobiletron Electronics Q1 profit falls YOY

Mobiletron Electronics Co. Ltd. said its first-quarter normalized net income came to 19 Taiwan cents per share, a decrease of 74.5% from 74 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$18.6 million, a decline of 74.5% from NT$73.0 million in the year-earlier period.

The normalized profit margin declined to 3.2% from 11.2% in the year-earlier period.

Total revenue fell 12.0% year over year to NT$574.1 million from NT$652.2 million, and total operating expenses declined 8.2% from the prior-year period to NT$522.3 million from NT$569.2 million.

Reported net income fell 75.8% year over year to NT$20.9 million, or 21 cents per share, from NT$86.4 million, or 87 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.