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Li Kang Biomedical Q1 profit climbs 27.9% YOY

Li Kang Biomedical Co. Ltd. said its normalized net income for the first quarter came to 28 Taiwan cents per share, an increase of 27.6% from 22 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$6.3 million, an increase of 27.9% from NT$4.9 million in the prior-year period.

The normalized profit margin increased to 6.6% from 5.1% in the year-earlier period.

Total revenue came to NT$95.4 million, compared with NT$96.2 million in the year-earlier period, and total operating expenses declined on an annual basis to NT$84.4 million from NT$88.5 million.

Reported net income increased 28.5% year over year to NT$10.0 million, or 45 cents per share, from NT$7.8 million, or 35 cents per share.

As of May 13, US$1 was equivalent to NT$32.68.