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Honmyue Enterprise Q1 profit climbs YOY

Honmyue Enterprise Co. Ltd. said its first-quarter normalized net income came to 11 Taiwan cents per share, a gain from 4 cents 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$14.0 million, a gain from NT$4.7 million in the prior-year period.

The normalized profit margin climbed to 1.7% from 0.5% in the year-earlier period.

Total revenue fell year over year to NT$843.8 million from NT$869.8 million, and total operating expenses declined 4.9% from the prior-year period to NT$817.9 million from NT$860.1 million.

Reported net income grew from the prior-year period to NT$19.5 million, or 15 cents per share, from NT$5.2 million, or 4 cents per share.

As of May 13, US$1 was equivalent to NT$30.62.