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Lung Hwa Electronics Q3 profit climbs YOY

Lung Hwa Electronics Co. Ltd. said its third-quarter normalized net income amounted to 31 Taiwan cents per share, an increase from 8 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$9.2 million, an increase from NT$2.5 million in the prior-year period.

The normalized profit margin climbed to 1,680.1% from 58.0% in the year-earlier period.

Total revenue fell 87.1% year over year to NT$547,000 from NT$4.2 million, and total operating expenses rose year over year to NT$6.5 million from NT$6.4 million.

Reported net income rose on an annual basis to NT$14.7 million, or 49 cents per share, from NT$3.6 million, or 12 cents per share.

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