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Taiwan Sakura Q1 profit climbs 21.4% YOY

Taiwan Sakura Corp. said its normalized net income for the first quarter came to 40 Taiwan cents per share, a gain of 21.0% from 33 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$87.4 million, a gain of 21.4% from NT$72.0 million in the year-earlier period.

The normalized profit margin rose to 7.0% from 5.9% in the year-earlier period.

Total revenue grew year over year to NT$1.26 billion from NT$1.21 billion, and total operating expenses grew from the prior-year period to NT$1.11 billion from NT$1.09 billion.

Reported net income grew 8.0% on an annual basis to NT$115.3 million, or 53 cents per share, from NT$106.7 million, or 48 cents per share.

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