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Oceanic Beverages swings to profit in Q2

Oceanic Beverages Co. Inc. said its normalized net income for the second quarter was NT$970,000, compared with a loss of NT$96,250 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.6% from negative 0.1% in the year-earlier period.

Total revenue climbed year over year to NT$163.8 million from NT$158.2 million, and total operating expenses rose year over year to NT$163.4 million from NT$158.5 million.

Reported net income came to NT$247,000, or 0 cents per share, compared to a loss of NT$263,000, or a loss of 0 cents per share, in the prior-year period.

As of Aug. 10, US$1 was equivalent to NT$31.65.