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CMC Corp. fiscal Q3 profit falls YOY

CMC Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 397.71 dong per share, a decline of 5.1% from 419.17 dong per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.37 billion dong, compared with 27.64 billion dong in the year-earlier period.

The normalized profit margin fell to 2.5% from 3.3% in the year-earlier period.

Total revenue rose 27.7% year over year to 1.075 trillion dong from 842.40 billion dong, and total operating expenses grew 29.1% year over year to 1.019 trillion dong from 788.87 billion dong.

Reported net income increased 8.7% from the prior-year period to 43.14 billion dong, or 627.00 dong per share, from 39.70 billion dong, or 602.00 dong per share.

As of Jan. 29, US$1 was equivalent to 22,230 dong.