Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.50 loss per share (vs NT$0.42 profit in 1Q 2025) First quarter 2026 results: NT$0.50 loss per share (down from NT$0.42 profit in 1Q 2025). Revenue: NT$1.40b (down 20% from 1Q 2025). Net loss: NT$39.7m (down 218% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 14
Dividend reduced to NT$0.60 Dividend of NT$0.60 is 63% lower than last year. Ex-date: 26th March 2026 Payment date: 24th April 2026 Dividend yield will be 2.9%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is not covered by earnings (129% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 43% to bring the payout ratio under control. However, EPS has declined by 31% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 13
Star Comgistic Capital Co., Ltd. announces Annual dividend, payable on April 24, 2026 Star Comgistic Capital Co., Ltd. announced Annual dividend of TWD 0.6000 per share payable on April 24, 2026, ex-date on March 26, 2026 and record date on March 28, 2026. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.60 (vs NT$2.67 in FY 2024) Full year 2025 results: EPS: NT$0.60 (down from NT$2.67 in FY 2024). Revenue: NT$5.97b (down 25% from FY 2024). Net income: NT$47.7m (down 78% from FY 2024). Profit margin: 0.8% (down from 2.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Mar 12
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 129% The company is paying a dividend despite having no free cash flows. Dividend yield: 7.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 129% Paying a dividend despite having no free cash flows. Earnings have declined by 21% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (NT$1.66b market cap, or US$52.1m). Announcement • Feb 04
Star Comgistic Capital Co., Ltd., Annual General Meeting, May 27, 2026 Star Comgistic Capital Co., Ltd., Annual General Meeting, May 27, 2026. Location: 6 floor no,331, t`i ting ta tao, neihu district, taipei city Taiwan Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.35 (vs NT$0.73 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.35 (down from NT$0.73 in 3Q 2024). Revenue: NT$1.71b (down 32% from 3Q 2024). Net income: NT$28.0m (down 52% from 3Q 2024). Profit margin: 1.6% (down from 2.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.74 profit in 2Q 2024) Second quarter 2025 results: NT$0.23 loss per share (down from NT$0.74 profit in 2Q 2024). Revenue: NT$1.24b (down 36% from 2Q 2024). Net loss: NT$18.1m (down 131% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.42 (vs NT$0.50 in 1Q 2024) First quarter 2025 results: EPS: NT$0.42 (down from NT$0.50 in 1Q 2024). Revenue: NT$1.74b (up 2.1% from 1Q 2024). Net income: NT$33.6m (down 16% from 1Q 2024). Profit margin: 1.9% (down from 2.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • May 06
Star Comgistic Capital Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Star Comgistic Capital Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$23.95, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Negligible returns to shareholders over past three years. Upcoming Dividend • Mar 28
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 01 April 2025. Payment date: 30 April 2025. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (4.0%). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$2.67 (vs NT$3.61 in FY 2023) Full year 2024 results: EPS: NT$2.67 (down from NT$3.61 in FY 2023). Revenue: NT$7.94b (up 15% from FY 2023). Net income: NT$213.4m (down 26% from FY 2023). Profit margin: 2.7% (down from 4.2% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Declared Dividend • Mar 13
Dividend reduced to NT$1.60 Dividend of NT$1.60 is 30% lower than last year. Ex-date: 1st April 2025 Payment date: 30th April 2025 Dividend yield will be 5.2%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is well covered by cash flows (10% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. New Risk • Nov 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (NT$2.49b market cap, or US$76.8m). Announcement • Nov 02
Star Comgistic Capital Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 Star Comgistic Capital Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.74 (vs NT$0.49 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.74 (up from NT$0.49 in 2Q 2023). Revenue: NT$1.94b (up 35% from 2Q 2023). Net income: NT$59.5m (up 52% from 2Q 2023). Profit margin: 3.1% (up from 2.7% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Aug 03
Star Comgistic Capital Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Star Comgistic Capital Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$0.50 (vs NT$0.31 in 1Q 2023) First quarter 2024 results: EPS: NT$0.50 (up from NT$0.31 in 1Q 2023). Revenue: NT$1.71b (up 16% from 1Q 2023). Net income: NT$39.9m (up 62% from 1Q 2023). Profit margin: 2.3% (up from 1.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 05
Star Comgistic Capital Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Star Comgistic Capital Co., Ltd. announced that they will report Q1, 2024 results at 1:30 PM, Taipei Standard Time on May 10, 2024 Buy Or Sell Opportunity • Apr 30
Now 20% undervalued Over the last 90 days, the stock has risen 5.8% to NT$34.70. The fair value is estimated to be NT$43.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 16%. Buy Or Sell Opportunity • Apr 19
Now 22% undervalued Over the last 90 days, the stock has risen 3.6% to NT$34.30. The fair value is estimated to be NT$43.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 16%. Buy Or Sell Opportunity • Mar 28
Now 24% undervalued Over the last 90 days, the stock has risen 2.8% to NT$33.25. The fair value is estimated to be NT$43.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 16%. Upcoming Dividend • Mar 21
Upcoming dividend of NT$2.30 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (4.0%). Declared Dividend • Mar 16
Dividend increased to NT$2.30 Dividend of NT$2.30 is 15% higher than last year. Ex-date: 28th March 2024 Payment date: 24th April 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$3.61 (vs NT$3.20 in FY 2022) Full year 2023 results: EPS: NT$3.61 (up from NT$3.20 in FY 2022). Revenue: NT$6.90b (down 6.7% from FY 2022). Net income: NT$288.8m (up 9.2% from FY 2022). Profit margin: 4.2% (up from 3.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 12
Star Comgistic Capital Co., Ltd., Annual General Meeting, May 29, 2024 Star Comgistic Capital Co., Ltd., Annual General Meeting, May 29, 2024. Location: 6F., No. 331, Sec. 1, Tiding Blvd., Taipei Taiwan Agenda: To consider 2023 Business report; to consider Audit Committee's review report on the 2023 financial statements; to consider Report on the distribution of earnings for the 2023; to consider Report on 2023 employees' remuneration; to consider Amendments to the Articles of Incorporation; to consider Establish the Procedures for Election of Directors. Announcement • Mar 08
Star Comgistic Capital Co., Ltd., Annual General Meeting, Mar 07, 2024 Star Comgistic Capital Co., Ltd., Annual General Meeting, Mar 07, 2024. Agenda: To consider Profit distribution/ deficit compensation; to consider Amendments to the corporate charter; to consider Business report and financial statements; to consider Acknowledgement of the 2023 business report and financial statements; and to consider other matters. New Risk • Aug 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 4.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$1.98b market cap, or US$62.1m). Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: NT$0.49 (vs NT$1.28 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.49 (down from NT$1.28 in 2Q 2022). Revenue: NT$1.43b (down 31% from 2Q 2022). Net income: NT$39.2m (down 62% from 2Q 2022). Profit margin: 2.7% (down from 5.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$29.70, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 184% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of NT$2.00 per share at 6.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 6.9%. Within top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (4.5%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$1.12 (vs NT$2.67 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.12 (down from NT$2.67 in 3Q 2021). Revenue: NT$1.89b (down 31% from 3Q 2021). Net income: NT$90.0m (down 58% from 3Q 2021). Profit margin: 4.8% (down from 7.8% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.28 (vs NT$1.02 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.28 (up from NT$1.02 in 2Q 2021). Revenue: NT$2.07b (down 27% from 2Q 2021). Net income: NT$102.4m (up 25% from 2Q 2021). Profit margin: 5.0% (up from 2.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$30.20, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 159% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: NT$0.49 (vs NT$0.83 in 1Q 2021) First quarter 2022 results: EPS: NT$0.49 (down from NT$0.83 in 1Q 2021). Revenue: NT$1.96b (down 23% from 1Q 2021). Net income: NT$44.7m (down 33% from 1Q 2021). Profit margin: 2.3% (down from 2.6% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$38.50, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 161% over the past three years. Upcoming Dividend • Mar 23
Upcoming dividend of NT$4.80 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 20 April 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 17%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$3.19 (up from NT$2.31 in FY 2020). Revenue: NT$10.5b (up 11% from FY 2020). Net income: NT$428.1m (up 38% from FY 2020). Profit margin: 4.1% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 10
Upcoming dividend of NT$4.04 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 28 March 2022. The company is paying out more than 100% of its profits and is paying out 94% of its cash flow. Trailing yield: 13%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.4%). Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.59 (vs NT$0.98 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$2.73b (down 9.6% from 3Q 2020). Net income: NT$213.8m (up 62% from 3Q 2020). Profit margin: 7.8% (up from 4.4% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS NT$0.61 (vs NT$0.52 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$2.84b (up 35% from 2Q 2020). Net income: NT$81.7m (up 17% from 2Q 2020). Profit margin: 2.9% (down from 3.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$21.60, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 12x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 123% over the past three years. Reported Earnings • May 07
First quarter 2021 earnings released: EPS NT$0.50 (vs NT$0.10 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.53b (up 75% from 1Q 2020). Net income: NT$66.8m (up 394% from 1Q 2020). Profit margin: 2.6% (up from 0.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$28.90, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 176% over the past three years. Upcoming Dividend • Apr 09
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 16 April 2021. Payment date: 29 April 2021. Trailing yield: 9.9%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$2.32 (vs NT$0.46 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$9.47b (down 14% from FY 2019). Net income: NT$310.7m (up 404% from FY 2019). Profit margin: 3.3% (up from 0.6% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 18% share price gain to NT$24.55, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 106% over the past three years. Is New 90 Day High Low • Mar 15
New 90-day high: NT$23.65 The company is up 26% from a price of NT$18.80 on 15 December 2020. Outperformed the Taiwanese market which is up 14% over the last 90 days. Exceeded the Consumer Durables industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: NT$21.15 The company is up 57% from its price of NT$13.50 on 24 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: NT$20.10 The company is up 63% from its price of NT$12.30 on 18 August 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 16% share price gain to NT$18.50, the stock is trading at a trailing P/E ratio of 18.8x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 51%. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.99 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$3.02b (down 3.3% from 3Q 2019). Net income: NT$132.3m (up 48% from 3Q 2019). Profit margin: 4.4% (up from 2.9% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 23
New 90-day high: NT$14.95 The company is up 44% from its price of NT$10.35 on 24 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 6.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: NT$14.90 The company is up 44% from its price of NT$10.35 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 8.0% over the same period.