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Wisher Industrial Q1 profit falls YOY

Wisher Industrial Co. Ltd. said its first-quarter normalized net income amounted to 10 Taiwan cents per share, a decrease of 19.2% from 12 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$9.9 million, a decrease of 19.2% from NT$12.3 million in the prior-year period.

The normalized profit margin dropped to 1.9% from 2.1% in the year-earlier period.

Total revenue decreased 11.0% year over year to NT$523.7 million from NT$588.7 million, and total operating expenses fell 12.8% from the prior-year period to NT$500.1 million from NT$573.7 million.

Reported net income fell 33.3% on an annual basis to NT$20.7 million, or 20 cents per share, from NT$31.1 million, or 30 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.