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Hey-song Q3 profit climbs 43.0% YOY

Hey-Song Corp. said its normalized net income for the third quarter amounted to 52 Taiwan cents per share, a gain of 43.0% from 37 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$210.7 million, an increase of 43.0% from NT$147.3 million in the year-earlier period.

The normalized profit margin climbed to 10.7% from 7.4% in the year-earlier period.

Total revenue totaled NT$1.97 billion, compared with NT$1.98 billion in the year-earlier period, and total operating expenses decreased from the prior-year period to NT$1.77 billion from NT$1.84 billion.

Reported net income increased 47.0% from the prior-year period to NT$289.4 million, or 72 cents per share, from NT$196.9 million, or 49 cents per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.