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Farcent Enterprise Q1 profit climbs 16.9% YOY

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Farcent Enterprise Q1 profit climbs 16.9% YOY

Farcent Enterprise Co. Ltd. said its first-quarter normalized net income amounted to 41 Taiwan cents per share, an increase of 16.9% from 35 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$22.0 million, an increase of 16.9% from NT$18.8 million in the year-earlier period.

The normalized profit margin declined to 4.7% from 5.4% in the year-earlier period.

Total revenue grew 33.0% on an annual basis to NT$465.5 million from NT$350.1 million, and total operating expenses grew 29.4% from the prior-year period to NT$424.3 million from NT$327.8 million.

Reported net income grew 36.5% from the prior-year period to NT$29.2 million, or 55 cents per share, from NT$21.4 million, or 40 cents per share.

As of April 30, US$1 was equivalent to NT$30.64.