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Iron Force Industrial Q1 profit climbs 7.7% YOY

Iron Force Industrial Co. Ltd. said its first-quarter normalized net income was NT$1.56 per share, compared with the S&P Capital IQ consensus estimate of NT$1.50 per share.

EPS climbed 7.7% year over year from NT$1.45.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$112.3 million, an increase of 7.7% from NT$104.2 million in the year-earlier period.

The normalized profit margin climbed to 11.9% from 11.8% in the year-earlier period.

Total revenue climbed 6.6% on an annual basis to NT$940.2 million from NT$881.9 million, and total operating expenses rose 6.0% year over year to NT$784.5 million from NT$740.2 million.

Reported net income grew 10.2% from the prior-year period to NT$140.7 million, or NT$1.96 per share, from NT$127.7 million, or NT$1.78 per share.

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