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Hey-song Q3 profit falls YOY

Hey-Song Corp. said its third-quarter normalized net income was 47 Taiwan cents per share, a decline of 10.9% from 52 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$187.7 million, a decline of 10.9% from NT$210.7 million in the prior-year period.

The normalized profit margin fell to 7.0% from 10.7% in the year-earlier period.

Total revenue increased 37.1% year over year to NT$2.70 billion from NT$1.97 billion, and total operating expenses increased 44.1% on an annual basis to NT$2.55 billion from NT$1.77 billion.

Reported net income declined 18.1% year over year to NT$237.2 million, or 59 cents per share, from NT$289.4 million, or 72 cents per share.

As of Nov. 9, US$1 was equivalent to NT$31.55.