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Zhejiang Dahua Technology Q3 profit climbs 52.9% YOY

Zhejiang Dahua Technology Co. Ltd. said its third-quarter normalized net income came to 8 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS rose 53.5% year over year from 5 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 237.9 million yuan, a gain of 52.9% from 155.6 million yuan in the year-earlier period.

The normalized profit margin increased to 10.1% from 9.7% in the year-earlier period.

Total revenue grew 47.1% on an annual basis to 2.36 billion yuan from 1.60 billion yuan, and total operating expenses increased 44.2% year over year to 2.11 billion yuan from 1.46 billion yuan.

Reported net income grew 36.2% from the prior-year period to 297.4 million yuan, or 10 fen per share, from 218.3 million yuan, or 8 fen per share.

As of Oct. 23, US$1 was equivalent to 6.35 yuan.