Ideal Bike Corp. said its normalized net income for the third quarter came to 61 Taiwan cents per share, an increase from 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$98.3 million, a gain from NT$14.7 million in the year-earlier period.

The normalized profit margin increased to 5.8% from 1.6% in the year-earlier period.

Total revenue climbed 81.4% on an annual basis to NT$1.70 billion from NT$939.2 million, and total operating expenses grew 73.3% from the prior-year period to NT$1.63 billion from NT$938.0 million.

Reported net income rose from the prior-year period to NT$118.6 million, or 73 cents per share, from NT$17.6 million, or 12 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.