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AAPICO Hitech Q1 profit falls YOY

AAPICO Hitech Public Company Ltd said its first-quarter normalized net income was 18 satang per share, a decline of 38.5% from 30 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.5 million baht, a decrease of 39.8% from 97.2 million baht in the prior-year period.

The normalized profit margin dropped to 1.6% from 2.6% in the year-earlier period.

Total revenue climbed year over year to 3.76 billion baht from 3.69 billion baht, and total operating expenses grew from the prior-year period to 3.66 billion baht from 3.53 billion baht.

Reported net income decreased 39.6% on an annual basis to 92.2 million baht, or 29 satang per share, from 152.7 million baht, or 47 satang per share.

As of May 14, US$1 was equivalent to 33.48 baht.