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Shenzhen Terca Technology Q1 profit climbs 36.2% YOY

Shenzhen Terca Technology Co. Ltd. said its normalized net income for the first quarter came to 2.0 million yuan, a rise of 36.2% from 1.5 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 5.6% from 3.5% in the year-earlier period.

Total revenue decreased 14.3% year over year to 35.7 million yuan from 41.6 million yuan, and total operating expenses decreased 16.7% on an annual basis to 32.9 million yuan from 39.5 million yuan.

Reported net income totaled 2.6 million yuan, or 1 fen per share, compared to 1.8 million yuan, or 1 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.