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Yen Sun Technology swings to profit in Q1

Yen Sun Technology Corp. said its normalized net income for the first quarter amounted to 5 Taiwan cents per share, compared with a loss of 7 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$2.8 million, compared with a loss of NT$3.4 million in the year-earlier period.

The normalized profit margin rose to 0.5% from negative 0.7% in the year-earlier period.

Total revenue grew 20.7% on an annual basis to NT$556.9 million from NT$461.3 million, and total operating expenses rose 18.5% year over year to NT$553.5 million from NT$466.9 million.

Reported net income came to NT$1.5 million, or 3 cents per share, compared to a loss of NT$5.2 million, or a loss of 11 cents per share, in the year-earlier period.

As of May 15, US$1 was equivalent to NT$30.44.