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Basso Industry Q2 profit climbs YOY

Basso Industry Corp. said its second-quarter normalized net income amounted to NT$1.66 per share, compared with the S&P Capital IQ consensus estimate of NT$1.67 per share.

EPS increased year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$229.5 million, an increase from NT$61.9 million in the prior-year period.

The normalized profit margin climbed to 20.0% from 7.2% in the year-earlier period.

Total revenue grew 34.1% on an annual basis to NT$1.15 billion from NT$854.9 million, and total operating expenses climbed 26.2% year over year to NT$856.0 million from NT$678.3 million.

Reported net income grew from the prior-year period to NT$353.3 million, or NT$2.56 per share, from NT$27.6 million, or 18 cents per share.

As of Aug. 10, US$1 was equivalent to NT$31.04.