Fu Burg Industrial Co. Ltd. said its first-quarter normalized net income was 34 Taiwan cents per share, a gain from 32 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$14.4 million, a gain of 13.0% from NT$12.8 million in the prior-year period.

The normalized profit margin dropped to 4.0% from 4.1% in the year-earlier period.

Total revenue grew on an annual basis to NT$327.7 million from NT$313.2 million, and total operating expenses increased 5.5% year over year to NT$312.6 million from NT$296.3 million.

Reported net income fell on an annual basis to NT$14.1 million, or 33 cents per share, from NT$14.2 million, or 36 cents per share.

As of May 15, US$1 was equivalent to NT$30.44.