Zig Sheng Industrial Co. Ltd. said its normalized net income for the second quarter amounted to 21 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.
The per-share result swung to a profit from the prior-year loss of 9 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$131.3 million, compared with a loss of NT$54.1 million in the year-earlier period.
The normalized profit margin climbed to 3.1% from negative 1.1% in the year-earlier period.
Total revenue decreased 11.0% year over year to NT$4.20 billion from NT$4.71 billion, and total operating expenses fell 16.8% on an annual basis to NT$4.00 billion from NT$4.81 billion.
Reported net income came to NT$269.4 million, or 44 cents per share, compared to a loss of NT$73.4 million, or a loss of 12 cents per share, in the prior-year period.
As of Aug. 5, US$1 was equivalent to NT$31.71.