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Tah Hsin Industrial Q2 profit climbs 11.7% YOY

Tah Hsin Industrial Corp. said its normalized net income for the second quarter amounted to 5 Taiwan cents per share, an increase of 11.7% from 4 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$8.7 million, a gain of 11.7% from NT$7.8 million in the prior-year period.

The normalized profit margin climbed to 1.3% from 1.1% in the year-earlier period.

Total revenue declined on an annual basis to NT$660.3 million from NT$684.5 million, and total operating expenses declined on an annual basis to NT$642.3 million from NT$667.7 million.

Reported net income decreased 57.1% on an annual basis to NT$11.5 million, or 6 cents per share, from NT$26.7 million, or 14 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.