Da Hui Ltd. said its normalized net income for the first quarter amounted to 55 Taiwan cents per share, a gain of 56.2% from 35 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$21.8 million, an increase of 76.2% from NT$12.4 million in the year-earlier period.

The normalized profit margin increased to 10.4% from 5.3% in the year-earlier period.

Total revenue declined 11.2% on an annual basis to NT$208.4 million from NT$234.7 million, and total operating expenses fell 16.9% from the prior-year period to NT$177.7 million from NT$213.8 million.

Reported net income increased 98.1% on an annual basis to NT$25.7 million, or 65 cents per share, from NT$13.0 million, or 37 cents per share.

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