Shan-Loong Transportation Co.Ltd said its first-quarter normalized net income amounted to 35 Taiwan cents per share, an increase of 45.2% from 24 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$47.6 million, an increase of 46.7% from NT$32.4 million in the year-earlier period.

The normalized profit margin increased to 1.4% from 0.8% in the year-earlier period.

Total revenue fell 14.0% on an annual basis to NT$3.31 billion from NT$3.85 billion, and total operating expenses decreased 14.7% from the prior-year period to NT$3.24 billion from NT$3.80 billion.

Reported net income increased 42.9% on an annual basis to NT$64.0 million, or 48 cents per share, from NT$44.8 million, or 34 cents per share.

As of May 11, US$1 was equivalent to NT$32.52.