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TYC Brother Industrial Q2 profit climbs 95.5% YOY

TYC Brother Industrial Co. Ltd. said its normalized net income for the second quarter came to 71 Taiwan cents per share, a gain of 95.5% from 37 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$222.7 million, a gain of 95.5% from NT$113.9 million in the year-earlier period.

The normalized profit margin climbed to 5.6% from 3.0% in the year-earlier period.

Total revenue increased year over year to NT$3.95 billion from NT$3.78 billion, and total operating expenses increased on an annual basis to NT$3.66 billion from NT$3.55 billion.

Reported net income rose on an annual basis to NT$271.5 million, or 87 cents per share, from NT$112.3 million, or 36 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.