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Shenzhen Terca Technology Q2 profit falls YOY

Shenzhen Terca Technology Co. Ltd. said its normalized net income for the second quarter came to 2 fen per share, a gain of 16.4% from 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.3 million yuan, a decrease of 22.1% from 5.5 million yuan in the prior-year period.

The normalized profit margin increased to 8.3% from 7.1% in the year-earlier period.

Total revenue declined 29.9% on an annual basis to 54.8 million yuan from 78.3 million yuan, and total operating expenses decreased 32.1% year over year to 48.2 million yuan from 71.0 million yuan.

Reported net income declined 44.3% on an annual basis to 4.1 million yuan, or 2 fen per share, from 7.4 million yuan, or 3 fen per share.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.