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Shenzhen Terca Technology Q3 profit climbs 21.7% YOY

Shenzhen Terca Technology Co. Ltd. said its third-quarter normalized net income came to 2 fen per share, an increase of 18.3% from 1 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 3.0 million yuan, an increase of 21.7% from 2.5 million yuan in the year-earlier period.

The normalized profit margin rose to 7.9% from 6.9% in the year-earlier period.

Total revenue grew 5.8% year over year to 38.5 million yuan from 36.4 million yuan, and total operating expenses decreased 10.5% from the prior-year period to 34.5 million yuan from 38.5 million yuan.

Reported net income totaled 4.0 million yuan, or 2 fen per share, compared to 3.9 million yuan, or 2 fen per share, in the prior-year period.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.