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Mosa Industrial swings to profit in H1

Mosa Industrial Corp. said its normalized net income for the first half came to NT$1.02 per share, compared with a loss of 6 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$144.8 million, compared with a loss of NT$8.0 million in the year-earlier period.

Total revenue grew 61.7% year over year to NT$1.00 billion from NT$618.3 million, and total operating expenses climbed 26.5% on an annual basis to NT$766.3 million from NT$605.6 million.

Reported net income rose year over year to NT$193.2 million, or NT$1.36 per share, from NT$55.7 million, or 40 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.