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Max Zipper Q3 profit climbs YOY

Max Zipper Co. Ltd. said its third-quarter normalized net income amounted to 24 Taiwan cents per share, an increase from 3 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$11.5 million, a gain from NT$1.6 million in the year-earlier period.

The normalized profit margin increased to 4.4% from 0.6% in the year-earlier period.

Total revenue grew 7.4% year over year to NT$261.0 million from NT$243.0 million, and total operating expenses grew year over year to NT$251.9 million from NT$242.2 million.

Reported net income increased on an annual basis to NT$16.3 million, or 33 cents per share, from NT$2.4 million, or 5 cents per share.

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