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Sanan Optoelectronics Q2 profit climbs 36.9% YOY

Sanan Optoelectronics Co. Ltd. said its second-quarter normalized net income was 13 fen per share, an increase of 29.3% 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 537.2 million yuan, a gain of 36.9% from 392.4 million yuan in the prior-year period.

The normalized profit margin rose to 25.9% from 24.5% in the year-earlier period.

Total revenue rose 29.8% on an annual basis to 2.08 billion yuan from 1.60 billion yuan, and total operating expenses rose year over year to 1.19 billion yuan from 1.16 billion yuan.

Reported net income increased 61.8% on an annual basis to 823.9 million yuan, or 20 fen per share, from 509.1 million yuan, or 13 fen per share.

As of Aug. 10, US$1 was equivalent to 6.66 yuan.