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Nien Made Enterprise Q2 profit climbs 54.5% YOY

Nien Made Enterprise Co. LTD. said its normalized net income for the second quarter was NT$2.93 per share, compared with the S&P Capital IQ consensus estimate of NT$2.71 per share.

EPS increased 37.2% year over year from NT$2.14.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$859.8 million, a gain of 54.5% from NT$556.5 million in the year-earlier period.

The normalized profit margin increased to 17.4% from 13.4% in the year-earlier period.

Total revenue increased 19.0% year over year to NT$4.94 billion from NT$4.15 billion, and total operating expenses rose 13.0% on an annual basis to NT$3.66 billion from NT$3.24 billion.

Reported net income rose 51.1% on an annual basis to NT$1.03 billion, or NT$3.50 per share, from NT$679.3 million, or NT$2.61 per share.

As of Aug. 5, US$1 was equivalent to NT$31.59.