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Zhejiang Aishida Electric Q3 profit climbs 16.5% YOY

Zhejiang Aishida Electric Co. Ltd said its normalized net income for the third quarter amounted to 7 fen per share, an increase of 14.6% from 6 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 24.2 million yuan, an increase of 16.5% from 20.7 million yuan in the prior-year period.

The normalized profit margin increased to 3.8% from 3.4% in the year-earlier period.

Total revenue grew year over year to 634.6 million yuan from 610.6 million yuan, and total operating expenses climbed on an annual basis to 607.7 million yuan from 591.3 million yuan.

Reported net income rose 62.6% from the prior-year period to 26.7 million yuan, or 8 fen per share, from 16.4 million yuan, or 5 fen per share.

As of Oct. 19, US$1 was equivalent to 6.73 yuan.