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Shin Shin Co. Ltd. Q1 profit climbs 8.5% YOY

Shin Shin Co. Ltd. said its first-quarter normalized net income amounted to 7 Taiwan cents per share, an increase of 8.5% from 6 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$4.9 million, a gain of 8.5% from NT$4.5 million in the year-earlier period.

The normalized profit margin increased to 14.8% from 13.7% in the year-earlier period.

Total revenue totaled NT$33.4 million, compared with NT$33.3 million in the year-earlier period, and total operating expenses decreased from the prior-year period to NT$27.5 million from NT$27.8 million.

Reported net income rose 12.5% on an annual basis to NT$6.6 million, or 9 cents per share, from NT$5.8 million, or 8 cents per share.

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