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Altek Q3 profit climbs YOY

Altek Corp. said its normalized net income for the third quarter came to 44 Taiwan cents per share, a gain from 7 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$118.2 million, an increase from NT$24.1 million in the prior-year period.

The normalized profit margin climbed to 3.1% from 0.7% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to NT$3.80 billion from NT$3.52 billion, and total operating expenses grew year over year to NT$3.62 billion from NT$3.46 billion.

Reported net income rose on an annual basis to NT$197.9 million, or 73 cents per share, from NT$31.8 million, or 9 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.