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Jiangsu Olive Sensors Q2 profit falls YOY

Jiangsu Olive Sensors High-Tech Co. Ltd. said its second-quarter normalized net income amounted to 12 fen per share, a decline of 21.7% from 15 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 13.2 million yuan, a decrease from 13.8 million yuan in the year-earlier period.

The normalized profit margin dropped to 12.4% from 12.6% in the year-earlier period.

Total revenue grew 15.2% year over year to 126.0 million yuan from 109.4 million yuan, and total operating expenses rose 14.6% on an annual basis to 103.0 million yuan from 89.9 million yuan.

Reported net income grew 12.7% from the prior-year period to 22.3 million yuan, or 20 fen per share, from 19.7 million yuan, or 22 fen per share.

As of Aug. 11, US$1 was equivalent to 6.64 yuan.