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Gordon Auto Body Parts swings to profit in Q3

Gordon Auto Body Parts Co. Ltd. said its third-quarter normalized net income amounted to 16 Taiwan cents per share, compared with a loss of 1 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$29.1 million, compared with a loss of NT$2.6 million in the year-earlier period.

The normalized profit margin climbed to 4.8% from negative 0.4% in the year-earlier period.

Total revenue climbed on an annual basis to NT$608.3 million from NT$592.8 million, and total operating expenses declined from the prior-year period to NT$571.0 million from NT$596.9 million.

Reported net income came to NT$35.9 million, or 20 cents per share, compared to a loss of NT$3.6 million, or a loss of 2 cents per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to NT$32.74.