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Pacific Online Systems Q1 profit climbs 17.8% YOY

Pacific Online Systems Corp. said its first-quarter normalized net income amounted to 23 Philippine centavos per share, an increase of 16.8% from 20 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 96.7 million pesos, an increase of 17.8% from 82.1 million pesos in the year-earlier period.

The normalized profit margin rose to 20.5% from 18.8% in the year-earlier period.

Total revenue grew 8.3% on an annual basis to 471.9 million pesos from 435.6 million pesos, and total operating expenses climbed 10.2% from the prior-year period to 336.0 million pesos from 304.9 million pesos.

Reported net income decreased 92.4% year over year to 16.8 million pesos, or 4 centavos per share, from 222.5 million pesos, or 53 centavos per share.

As of April 27, US$1 was equivalent to 44.21 Philippine pesos.