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Maywufa swings to profit in Q2

Maywufa Co. Ltd. said its normalized net income for the second quarter came to NT$8.4 million, compared with a loss of NT$947,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 2.5% from negative 0.3% in the year-earlier period.

Total revenue rose 14.4% year over year to NT$341.5 million from NT$298.6 million, and total operating expenses grew 13.9% from the prior-year period to NT$325.5 million from NT$285.8 million.

Reported net income came to NT$12.0 million, or 9 cents per share, compared to NT$12.0 million, or 9 cents per share, in the year-earlier period.

As of July 29, US$1 was equivalent to NT$31.44.