Maywufa Co. Ltd. said its normalized net income for the first quarter was 16 Taiwan cents per share, an increase of 77.1% from 9 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$20.9 million, a gain of 77.2% from NT$11.8 million in the year-earlier period.
The normalized profit margin rose to 6.0% from 4.0% in the year-earlier period.
Total revenue grew 17.4% year over year to NT$347.6 million from NT$296.0 million, and total operating expenses grew 12.6% on an annual basis to NT$306.6 million from NT$272.4 million.
Reported net income increased 64.4% year over year to NT$30.6 million, or 23 cents per share, from NT$18.6 million, or 14 cents per share.
As of May 12, US$1 was equivalent to NT$30.75.
