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Tekom Technologies Q3 profit climbs YOY

Tekom Technologies Inc. said its third-quarter normalized net income came to 52 Taiwan cents per share, an increase from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$11.2 million, an increase from NT$386,880 in the prior-year period.

The normalized profit margin rose to 7.0% from 0.4% in the year-earlier period.

Total revenue grew 51.8% year over year to NT$160.2 million from NT$105.5 million, and total operating expenses grew 36.3% year over year to NT$142.5 million from NT$104.5 million.

Reported net income grew from the prior-year period to NT$17.9 million, or 84 cents per share, from NT$595,000, or 3 cents per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.