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AAPICO Hitech Q1 profit climbs 56.4% YOY

AAPICO Hitech Public Co. Ltd said its first-quarter normalized net income came to 28 satang per share, an increase of 53.1% from 18 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.4 million baht, a gain of 56.4% from 58.5 million baht in the prior-year period.

The normalized profit margin rose to 2.3% from 1.6% in the year-earlier period.

Total revenue grew on an annual basis to 3.91 billion baht from 3.76 billion baht, and total operating expenses increased from the prior-year period to 3.74 billion baht from 3.66 billion baht.

Reported net income rose 58.5% on an annual basis to 146.1 million baht, or 45 satang per share, from 92.2 million baht, or 29 satang per share.

As of May 16, US$1 was equivalent to 35.39 baht.