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Sanan Optoelectronics Q3 profit climbs 42.2% YOY

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Sanan Optoelectronics Q3 profit climbs 42.2% YOY

Sanan Optoelectronics Co. Ltd. said its normalized net income for the third quarter came to 14 fen per share, a gain of 40.9% from 10 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 588.6 million yuan, a gain of 42.2% from 414.0 million yuan in the year-earlier period.

The normalized profit margin rose to 26.6% from 24.2% in the year-earlier period.

Total revenue increased 29.8% on an annual basis to 2.22 billion yuan from 1.71 billion yuan, and total operating expenses increased 13.5% year over year to 1.34 billion yuan from 1.18 billion yuan.

Reported net income rose 63.0% year over year to 862.7 million yuan, or 21 fen per share, from 529.4 million yuan, or 13 fen per share.

As of Oct. 25, US$1 was equivalent to 6.64 yuan.