Hong Ho Precision Textile Co. Ltd. said its first-quarter normalized net income came to 3 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.
EPS declined 64.7% year over year from 9 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$4.2 million, a decline of 65.0% from NT$12.1 million in the prior-year period.
The normalized profit margin fell to 2.1% from 5.9% in the year-earlier period.
Total revenue declined on an annual basis to NT$199.6 million from NT$206.2 million, and total operating expenses grew from the prior-year period to NT$196.3 million from NT$191.5 million.
Reported net income declined 66.8% year over year to NT$5.1 million, or 4 cents per share, from NT$15.4 million, or 11 cents per share.
As of May 14, US$1 was equivalent to NT$30.54.
