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Shinih Enterprise profit holds relatively steady YOY in Q2

Shinih Enterprise Co. Ltd. said its second-quarter normalized net income was 38 Taiwan cents per share, compared with 38 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$44.1 million, compared with NT$43.9 million in the prior-year period.

The normalized profit margin climbed to 4.5% from 4.0% in the year-earlier period.

Total revenue fell 10.5% year over year to NT$979.5 million from NT$1.09 billion, and total operating expenses decreased 11.4% from the prior-year period to NT$896.2 million from NT$1.01 billion.

Reported net income grew 12.3% year over year to NT$45.5 million, or 40 cents per share, from NT$40.5 million, or 35 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.