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Kang Na Hsiung Enterprise Q2 profit climbs 21.0% YOY

Kang Na Hsiung Enterprise Co. Ltd. said its second-quarter normalized net income was 9 Taiwan cents per share, a gain of 22.1% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$18.2 million, an increase of 21.0% from NT$15.1 million in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.3% in the year-earlier period.

Total revenue fell 14.3% year over year to NT$994.2 million from NT$1.16 billion, and total operating expenses declined 14.2% on an annual basis to NT$974.5 million from NT$1.14 billion.

Reported net income increased 69.9% from the prior-year period to NT$23.4 million, or 12 cents per share, from NT$13.8 million, or 7 cents per share.

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