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Shin Shin Co. Ltd. Q2 profit falls YOY

Shin Shin Co. Ltd. said its second-quarter normalized net income was 4 Taiwan cents per share, a decline of 41.7% from 7 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$3.0 million, a decline of 41.7% from NT$5.2 million in the year-earlier period.

The normalized profit margin fell to 9.1% from 15.0% in the year-earlier period.

Total revenue fell year over year to NT$33.0 million from NT$34.5 million, and total operating expenses increased 6.3% year over year to NT$29.9 million from NT$28.2 million.

Reported net income fell 44.4% on an annual basis to NT$3.7 million, or 5 cents per share, from NT$6.6 million, or 9 cents per share.

As of Aug. 11, US$1 was equivalent to NT$31.26.