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Hanpin Electron Q1 profit climbs 12.7% YOY

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Hanpin Electron Q1 profit climbs 12.7% YOY

Hanpin Electron Co. Ltd. said its normalized net income for the first quarter was 40 Taiwan cents per share, an increase of 12.6% from 35 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$31.7 million, an increase of 12.7% from NT$28.2 million in the prior-year period.

The normalized profit margin rose to 6.5% from 6.5% in the year-earlier period.

Total revenue climbed 11.8% year over year to NT$487.4 million from NT$435.9 million, and total operating expenses climbed 12.5% on an annual basis to NT$442.8 million from NT$393.5 million.

Reported net income rose 11.7% year over year to NT$46.5 million, or 58 cents per share, from NT$41.7 million, or 52 cents per share.

As of May 13, US$1 was equivalent to NT$30.62.