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King Chou Marine Technology Q3 profit climbs 65.1% YOY

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King Chou Marine Technology Q3 profit climbs 65.1% YOY

King Chou Marine Technology Co. Ltd. said its normalized net income for the third quarter came to 87 Taiwan cents per share, a gain of 64.8% from 53 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$73.3 million, a gain of 65.1% from NT$44.4 million in the year-earlier period.

The normalized profit margin climbed to 9.2% from 5.7% in the year-earlier period.

Total revenue climbed year over year to NT$798.4 million from NT$773.7 million, and total operating expenses fell year over year to NT$686.8 million from NT$694.9 million.

Reported net income rose 24.6% from the prior-year period to NT$80.0 million, or 95 cents per share, from NT$64.2 million, or 76 cents per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.