Tex-Ray Industrial Co. Ltd. said its normalized net income for the first quarter was 11 Taiwan cents per share, an increase of 13.4% from 10 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$24.0 million, a gain of 13.3% from NT$21.2 million in the prior-year period.

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

Total revenue climbed year over year to NT$1.67 billion from NT$1.64 billion, and total operating expenses came to NT$1.64 billion, compared with NT$1.63 billion in the prior-year period.

Reported net income decreased 25.1% from the prior-year period to NT$6.3 million, or 3 cents per share, from NT$8.4 million, or 4 cents per share.

As of May 13, US$1 was equivalent to NT$32.68.