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Lien Hwa Industrial Q1 profit climbs 23.1% YOY

Lien Hwa Industrial Corp. said its first-quarter normalized net income was 23 Taiwan cents per share, an increase of 23.0% from 19 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$220.9 million, an increase of 23.1% from NT$179.5 million in the year-earlier period.

The normalized profit margin climbed to 16.9% from 14.3% in the year-earlier period.

Total revenue increased on an annual basis to NT$1.31 billion from NT$1.25 billion, and total operating expenses decreased year over year to NT$1.16 billion from NT$1.20 billion.

Reported net income rose 19.8% from the prior-year period to NT$338.1 million, or 35 cents per share, from NT$282.2 million, or 29 cents per share.

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