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Taiwan Sanyo Electric Q1 profit climbs 94.0% YOY

Taiwan Sanyo Electric Co. Ltd. said its first-quarter normalized net income came to NT$4.7 million, a rise of 94.0% from NT$2.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.4% from 0.2% in the year-earlier period.

Total revenue climbed on an annual basis to NT$1.08 billion from NT$1.04 billion, and total operating expenses increased year over year to NT$1.08 billion from NT$1.03 billion.

Reported net income increased 49.4% on an annual basis to NT$7.8 million, or 3 cents per share, from NT$5.2 million, or 2 cents per share.

As of May 13, US$1 was equivalent to NT$30.62.