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GFun Industrial Q1 profit climbs YOY

GFun Industrial Corp. said its first-quarter normalized net income came to 32 Taiwan cents per share, a gain from 16 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$11.2 million, a gain from NT$5.4 million in the prior-year period.

The normalized profit margin rose to 4.4% from 2.2% in the year-earlier period.

Total revenue totaled NT$254.7 million, compared with NT$252.3 million in the prior-year period, and total operating expenses decreased on an annual basis to NT$236.9 million from NT$244.5 million.

Reported net income grew from the prior-year period to NT$14.8 million, or 43 cents per share, from NT$7.2 million, or 21 cents per share.

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