TAIPEI, Taiwan (BRAIN) — Ideal Bike and Merida Industries, two Taiwan-based bike manufacturers, have filed their first-quarter earnings reports with the Taipei stock exchange.
Merida reported sales of NT$7.568 billion (about $250 million) in the quarter, up 29% from the same period last year. Its net operating income was NT$603 million, up from NT$532 million year-over-year. The company reported a NT$106 million non-operating loss in the quarter related to associates and joint ventures and a total profit of $452 million. Earnings per share was NT$1.40, up slightly from NT$1.39 last year.
Filings show Merida’s operating revenue in the first month of the second quarter was down 14% from the same month last year.
Ideal reported sales of NT$743 million (about $25.5 million) in the quarter, up 18.5% from the same period last year. Its net operating loss was NT$73 million, compared to a loss of NT$45 million last year. Total loss was NT$71 million compared to a loss of NT$21 million in the first quarter last year. Loss per share was NT$0.22, versus a loss per share of NT$0.07 last year.
Filings show Ideal’s operating revenue in the first month of the second quarter was up 25% from last year.
