Giant Manufacturing Co Ltd., believed to the world's largest bicycle manufacturer, reported operating revenue of NT$15.6 billion ($505.4 mm) in the second quarter of 2015, up 3.3 percent from NT$15.1 billion in the same quarter a year earlier.
The Taiwanese company reported gross margin of 22.5 percent, down from 23.7 percent a year earlier. Operating income declined 7.7 percent to NT$1.42 billion ($46 mm), or 9.1 percent of operating revenue, compared with 10.2 percent in the second quarter of 2014.
The company, which sells the bulk of its bikes to Europe and the United States, reported foreign exchange trimmed its revenue by NT$57.1 million ($2 mm), compared with NT$65.2 million a year earlier.
Profits attributable to shareholders reached NT$835.6 million ($27 mm), or NT$2.22 per full diluted share, compared with NT$859.3 million, or NT$2.29 a year earlier.
