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TYC Brother Industrial Q3 profit climbs YOY

TYC Brother Industrial Co. Ltd. said its third-quarter normalized net income amounted to 66 Taiwan cents per share, an increase from 31 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$206.0 million, an increase from NT$97.8 million in the year-earlier period.

The normalized profit margin increased to 5.5% from 2.8% in the year-earlier period.

Total revenue increased 8.4% on an annual basis to NT$3.72 billion from NT$3.43 billion, and total operating expenses grew 8.7% on an annual basis to NT$3.57 billion from NT$3.29 billion.

Reported net income grew from the prior-year period to NT$284.0 million, or 91 cents per share, from NT$131.0 million, or 42 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.