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North-Star International swings to profit in Q1

North-Star International Co. Ltd. said its first-quarter normalized net income was 7 Taiwan cents per share, compared with a loss of 1 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$12.8 million, compared with a loss of NT$1.8 million in the prior-year period.

The normalized profit margin climbed to 1.7% from negative 0.2% in the year-earlier period.

Total revenue climbed 6.0% on an annual basis to NT$768.1 million from NT$724.4 million, and total operating expenses grew from the prior-year period to NT$749.7 million from NT$729.1 million.

Reported net income came to NT$21.2 million, or 11 cents per share, compared to a loss of NT$2.7 million, or a loss of 2 cents per share, in the year-earlier period.

As of May 16, US$1 was equivalent to NT$32.63.