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Orange Electronic Q1 profit climbs 94.9% YOY

Orange Electronic Co. Ltd. said its first-quarter normalized net income came to 42 Taiwan cents per share, a gain of 75.7% from 24 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$8.1 million, a gain of 94.9% from NT$4.2 million in the prior-year period.

The normalized profit margin increased to 6.1% from 5.9% in the year-earlier period.

Total revenue rose 87.7% year over year to NT$132.3 million from NT$70.5 million, and total operating expenses grew 81.3% on an annual basis to NT$119.2 million from NT$65.7 million.

Reported net income grew 80.9% year over year to NT$9.9 million, or 52 cents per share, from NT$5.5 million, or 32 cents per share.

As of July 22, US$1 was equivalent to NT$31.25.