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CHANG TYPE Industrial Q1 profit climbs YOY

CHANG TYPE Industrial Co. Ltd. said its normalized net income for the first quarter was 87 Taiwan cents per share, a gain from 33 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$68.2 million, a gain from NT$25.7 million in the prior-year period.

The normalized profit margin rose to 7.9% from 3.9% in the year-earlier period.

Total revenue increased 29.2% on an annual basis to NT$862.9 million from NT$667.9 million, and total operating expenses climbed 19.2% from the prior-year period to NT$732.2 million from NT$614.5 million.

Reported net income rose on an annual basis to NT$89.3 million, or NT$1.13 per share, from NT$33.8 million, or 43 cents per share.

As of May 11, US$1 was equivalent to NT$32.52.