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Suzhou TA&A Q1 profit climbs 19.1% YOY

Suzhou TA&A Ultra Clean Technology Co. Ltd. said its first-quarter normalized net income came to 3 fen per share, a decrease of 9.5% from 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.9 million yuan, a gain of 19.1% from 7.5 million yuan in the prior-year period.

The normalized profit margin dropped to 7.9% from 8.2% in the year-earlier period.

Total revenue increased 25.3% year over year to 114.3 million yuan from 91.2 million yuan, and total operating expenses climbed 26.9% from the prior-year period to 100.6 million yuan from 79.3 million yuan.

Reported net income rose 14.9% on an annual basis to 11.2 million yuan, or 4 fen per share, from 9.8 million yuan, or 4 fen per share.

As of April 22, US$1 was equivalent to 6.19 yuan.