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Gordon Auto Body Parts Q1 profit falls YOY

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Gordon Auto Body Parts Q1 profit falls YOY

Gordon Auto Body Parts Co. Ltd. said its first-quarter normalized net income came to 3 Taiwan cents per share, a decline of 13.3% 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$6.2 million, a decline of 20.8% from NT$7.9 million in the prior-year period.

The normalized profit margin dropped to 1.0% from 1.3% in the year-earlier period.

Total revenue fell on an annual basis to NT$591.8 million from NT$616.8 million, and total operating expenses decreased 6.1% from the prior-year period to NT$565.3 million from NT$602.0 million.

Reported net income totaled a loss of NT$213.8 million, or a loss of NT$1.19 per share, compared to income of NT$13.8 million, or 7 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$30.62.