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KMC (Kuei Meng) International Q2 profit climbs 33.6% YOY

KMC (Kuei Meng) International Inc. said its second-quarter normalized net income came to NT$1.35 per share, compared with the S&P Capital IQ consensus estimate of NT$1.22 per share.

EPS climbed 21.6% year over year from NT$1.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$162.4 million, a gain of 33.6% from NT$121.6 million in the prior-year period.

The normalized profit margin increased to 17.4% from 16.2% in the year-earlier period.

Total revenue rose 24.4% year over year to NT$936.0 million from NT$752.6 million, and total operating expenses rose 14.7% from the prior-year period to NT$655.8 million from NT$571.8 million.

Reported net income grew 32.8% from the prior-year period to NT$174.1 million, or NT$1.45 per share, from NT$131.1 million, or NT$1.20 per share.

As of Aug. 15, US$1 was equivalent to NT$31.33.