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Depo Auto Parts Industrial Q1 profit falls YOY

Depo Auto Parts Industrial Co. Ltd. said its normalized net income for the first quarter amounted to NT$1.28 per share, a decline of 36.7% from NT$2.02 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$213.1 million, a decrease of 36.7% from NT$336.4 million in the prior-year period.

The normalized profit margin declined to 6.0% from 9.2% in the year-earlier period.

Total revenue declined on an annual basis to NT$3.53 billion from NT$3.67 billion, and total operating expenses decreased from the prior-year period to NT$3.05 billion from NT$3.17 billion.

Reported net income declined 33.2% year over year to NT$288.5 million, or NT$1.73 per share, from NT$432.0 million, or NT$2.59 per share.

As of May 13, US$1 was equivalent to NT$30.62.