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Li Kang Biomedical swings to profit in Q2

Li Kang Biomedical Co. Ltd. said its normalized net income for the second quarter amounted to 57 Taiwan cents per share, compared with a loss of 27 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$12.6 million, compared with a loss of NT$2.2 million in the prior-year period.

The normalized profit margin rose to 8.8% from negative 4.5% in the year-earlier period.

Total revenue increased on an annual basis to NT$142.9 million from NT$48.8 million, and total operating expenses climbed on an annual basis to NT$123.0 million from NT$52.2 million.

Reported net income totaled NT$20.1 million, or 91 cents per share, compared to a loss of NT$2.8 million, or a loss of 34 cents per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to NT$32.22.