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Star Comgistic Capital swings to profit in Q1

Star Comgistic Capital Co. Ltd. said its first-quarter normalized net income was 5 Taiwan cents per share, compared with a loss of 9 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$6.1 million, compared with a loss of NT$12.4 million in the year-earlier period.

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

Total revenue fell 11.2% on an annual basis to NT$2.93 billion from NT$3.29 billion, and total operating expenses declined 12.4% from the prior-year period to NT$2.93 billion from NT$3.34 billion.

Reported net income increased on an annual basis to NT$22.8 million, or 17 cents per share, from NT$241,000, or 0 cents per share.

As of May 16, US$1 was equivalent to NT$32.63.