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Dynamic Precision Industry swings to profit in Q3

Dynamic Precision Industry Corp. said its normalized net income for the third quarter came to 13 Taiwan cents per share, compared with a loss of 38 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$6.8 million, compared with a loss of NT$19.5 million in the prior-year period.

The normalized profit margin rose to 1.8% from negative 8.8% in the year-earlier period.

Total revenue increased 68.3% year over year to NT$373.1 million from NT$221.7 million, and total operating expenses rose 44.2% year over year to NT$371.7 million from NT$257.6 million.

Reported net income totaled NT$8.7 million, or 17 cents per share, compared to a loss of NT$35.6 million, or a loss of 70 cents per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to NT$32.74.