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Eminent Luggage Q1 profit climbs YOY

Eminent Luggage Corp. said its normalized net income for the first quarter amounted to 16 Taiwan cents per share, a decrease of 23.3% from 21 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$11.2 million, an increase from NT$10.7 million in the year-earlier period.

The normalized profit margin increased to 1.4% from 1.3% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to NT$772.6 million from NT$818.4 million, and total operating expenses fell year over year to NT$765.8 million from NT$804.9 million.

Reported net income grew 13.4% on an annual basis to NT$15.2 million, or 22 cents per share, from NT$13.4 million, or 26 cents per share.

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