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Basso Industry Q1 profit climbs YOY

Basso Industry Corp. said its normalized net income for the first quarter came to 58 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS increased year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$80.1 million, an increase from NT$36.5 million in the year-earlier period.

The normalized profit margin rose to 8.3% from 4.3% in the year-earlier period.

Total revenue climbed 15.2% year over year to NT$970.1 million from NT$841.8 million, and total operating expenses grew 7.8% on an annual basis to NT$732.0 million from NT$679.0 million.

Reported net income grew from the prior-year period to NT$171.2 million, or NT$1.24 per share, from NT$49.1 million, or 32 cents per share.

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