Tidehold Development Co. Ltd. said its third-quarter normalized net income was NT$9.6 million, a rise from NT$875,620 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 54.1% from 1.5% in the year-earlier period.

Total revenue fell 68.9% on an annual basis to NT$17.7 million from NT$56.9 million, and total operating expenses declined 65.2% from the prior-year period to NT$20.9 million from NT$60.1 million.

Reported net income increased on an annual basis to NT$21.6 million, or 22 cents per share, from NT$3.9 million, or 4 cents per share.

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