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Tah Hsin Industrial Q1 profit climbs YOY

Tah Hsin Industrial Corp. said its normalized net income for the first quarter was 2 Taiwan cents per share, an increase from 2 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$4.1 million, a gain from NT$4.0 million in the year-earlier period.

The normalized profit margin increased to 0.6% from 0.6% in the year-earlier period.

Total revenue increased on an annual basis to NT$638.6 million from NT$631.8 million, and total operating expenses decreased from the prior-year period to NT$628.0 million from NT$645.5 million.

Reported net income increased from the prior-year period to NT$5.7 million, or 3 cents per share, from NT$105,000, or 0 cents per share.

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