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New Palace International Q1 profit climbs YOY

New Palace International Co. Ltd. said its first-quarter normalized net income came to 55 Taiwan cents per share, a gain from 24 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$37.4 million, an increase from NT$15.9 million in the prior-year period.

The normalized profit margin climbed to 7.1% from 3.2% in the year-earlier period.

Total revenue rose 6.0% year over year to NT$525.6 million from NT$495.7 million, and total operating expenses came to NT$474.1 million, compared with NT$475.7 million in the year-earlier period.

Reported net income grew from the prior-year period to NT$45.0 million, or 67 cents per share, from NT$15.9 million, or 24 cents per share.

As of May 8, US$1 was equivalent to NT$30.70.