MJ International Co. Ltd. said its first-quarter normalized net income came to NT$2.03 per share, an increase of 23.7% from NT$1.64 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$120.3 million, an increase of 23.2% from NT$97.7 million in the year-earlier period.

The normalized profit margin climbed to 14.1% from 12.0% in the year-earlier period.

Total revenue climbed year over year to NT$854.8 million from NT$815.4 million, and total operating expenses declined from the prior-year period to NT$669.2 million from NT$696.2 million.

Reported net income grew 21.5% year over year to NT$154.4 million, or NT$2.61 per share, from NT$127.1 million, or NT$2.14 per share.

As of June 13, US$1 was equivalent to NT$32.37.