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Maytronics Q3 profit climbs 16.4% YOY

Maytronics Ltd. said its third-quarter normalized net income came to 5 agorot per share, a gain of 10.4% from 5 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million shekels, a gain of 16.4% from 4.9 million shekels in the year-earlier period.

The normalized profit margin dropped to 4.8% from 5.1% in the year-earlier period.

Total revenue rose 24.1% year over year to 119.1 million shekels from 96.0 million shekels, and total operating expenses grew 20.3% from the prior-year period to 107.3 million shekels from 89.1 million shekels.

Reported net income totaled 7.5 million shekels, or 7 agorot per share, compared to 7.1 million shekels, or 7 agorot per share, in the year-earlier period.

As of Nov. 29, US$1 was equivalent to 3.84 shekels.