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Hanpin Electron Q3 profit climbs YOY

Hanpin Electron Co. Ltd. said its normalized net income for the third quarter was 78 Taiwan cents per share, an increase from 34 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$62.8 million, a gain from NT$27.3 million in the year-earlier period.

The normalized profit margin increased to 9.5% from 5.7% in the year-earlier period.

Total revenue grew 38.2% year over year to NT$657.6 million from NT$475.9 million, and total operating expenses grew 29.0% from the prior-year period to NT$576.8 million from NT$447.2 million.

Reported net income increased 64.8% on an annual basis to NT$67.7 million, or 84 cents per share, from NT$41.1 million, or 51 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.