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TYC Brother Industrial Q1 profit climbs 58.6% YOY

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TYC Brother Industrial Q1 profit climbs 58.6% YOY

TYC Brother Industrial Co. Ltd. said its first-quarter normalized net income amounted to 58 Taiwan cents per share, an increase of 58.6% from 37 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$180.8 million, a gain of 58.6% from NT$114.0 million in the prior-year period.

The normalized profit margin rose to 4.4% from 3.1% in the year-earlier period.

Total revenue grew 9.0% on an annual basis to NT$4.07 billion from NT$3.73 billion, and total operating expenses grew 7.5% year over year to NT$3.76 billion from NT$3.49 billion.

Reported net income grew 76.2% on an annual basis to NT$230.9 million, or 74 cents per share, from NT$131.0 million, or 42 cents per share.

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