Thai Stanley Electric PCL said its normalized net income for the fiscal first quarter ended June 30 came to 2.09 baht per share, a decline of 47.9% from 4.00 baht per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 159.8 million baht, a decrease of 47.9% from 306.5 million baht in the year-earlier period.
The normalized profit margin dropped to 7.8% from 10.8% in the year-earlier period.
Total revenue decreased 27.7% on an annual basis to 2.05 billion baht from 2.83 billion baht, and total operating expenses decreased 23.1% year over year to 1.82 billion baht from 2.37 billion baht.
Reported net income decreased 47.8% year over year to 204.5 million baht, or 2.67 baht per share, from 391.6 million baht, or 5.11 baht per share.
As of Aug. 8, US$1 was equivalent to 32.14 baht.
