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Tonlin Department Store Q1 profit falls YOY

Tonlin Department Store Co. Ltd. said its first-quarter normalized net income was 9 Taiwan cents per share, a decline of 61.3% from 23 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$15.9 million, a decrease of 61.2% from NT$41.1 million in the prior-year period.

The normalized profit margin dropped to 11.2% from 16.5% in the year-earlier period.

Total revenue fell 42.8% year over year to NT$142.4 million from NT$249.1 million, and total operating expenses declined 38.0% from the prior-year period to NT$111.3 million from NT$179.4 million.

Reported net income declined 66.6% year over year to NT$19.3 million, or 11 cents per share, from NT$57.8 million, or 33 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.