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Lien Hwa Industrial Q2 profit climbs 43.3% YOY

Lien Hwa Industrial Corp. said its normalized net income for the second quarter amounted to 48 Taiwan cents per share, a gain of 43.3% from 33 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$457.2 million, an increase of 43.3% from NT$319.1 million in the year-earlier period.

The normalized profit margin increased to 34.9% from 23.9% in the year-earlier period.

Total revenue decreased on an annual basis to NT$1.31 billion from NT$1.33 billion, and total operating expenses decreased year over year to NT$1.26 billion from NT$1.28 billion.

Reported net income increased 55.5% on an annual basis to NT$718.6 million, or 75 cents per share, from NT$462.0 million, or 48 cents per share.

As of Aug. 10, US$1 was equivalent to NT$31.65.