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Taiwan Sakura Q1 profit climbs 56.7% YOY

Taiwan Sakura Corp. said its normalized net income for the first quarter came to 62 Taiwan cents per share, an increase of 56.5% from 40 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$136.9 million, an increase of 56.7% from NT$87.4 million in the prior-year period.

The normalized profit margin climbed to 9.3% from 7.0% in the year-earlier period.

Total revenue increased 17.5% year over year to NT$1.48 billion from NT$1.26 billion, and total operating expenses rose 15.6% from the prior-year period to NT$1.28 billion from NT$1.11 billion.

Reported net income grew 57.3% on an annual basis to NT$181.4 million, or 83 cents per share, from NT$115.3 million, or 53 cents per share.

As of May 11, US$1 was equivalent to NT$32.52.