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Nan Ya Plastics Q1 profit climbs 16.4% YOY

Nan Ya Plastics Corp. said its first-quarter normalized net income amounted to 72 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 75 cents per share.

EPS increased 16.4% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$5.70 billion, an increase of 16.4% from NT$4.90 billion in the prior-year period.

The normalized profit margin increased to 7.2% from 6.3% in the year-earlier period.

Total revenue increased year over year to NT$79.53 billion from NT$77.47 billion, and total operating expenses fell from the prior-year period to NT$73.00 billion from NT$74.90 billion.

Reported net income fell 14.8% on an annual basis to NT$7.95 billion, or NT$1.00 per share, from NT$9.33 billion, or NT$1.18 per share.

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