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Star Comgistic Capital swings to profit in Q2

Star Comgistic Capital Co. Ltd. said its second-quarter normalized net income came to 6 Taiwan cents per share, compared with a loss of 4 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$8.2 million, compared with a loss of NT$5.3 million in the prior-year period.

The normalized profit margin climbed to 0.3% from negative 0.2% in the year-earlier period.

Total revenue decreased 11.1% on an annual basis to NT$2.78 billion from NT$3.12 billion, and total operating expenses fell 11.1% year over year to NT$2.81 billion from NT$3.16 billion.

Reported net income totaled NT$25.5 million, or 19 cents per share, compared to a loss of NT$55.1 million, or a loss of 41 cents per share, in the prior-year period.

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