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Sichuan Jiuzhou Electronic Q3 profit falls YOY

Sichuan Jiuzhou Electronic Co. Ltd. said its normalized net income for the third quarter came to 5.7 million yuan, a fall of 84.3% from 36.6 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.8% from 4.6% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to 751.0 million yuan from 802.9 million yuan, and total operating expenses rose year over year to 747.5 million yuan from 738.2 million yuan.

Reported net income declined 75.6% year over year to 9.5 million yuan, or 1 fen per share, from 38.9 million yuan, or 4 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.