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Parpro swings to profit in Q3

Parpro Corp. said its third-quarter normalized net income amounted to 23 Taiwan cents per share, compared with a loss of 16 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$17.4 million, compared with a loss of NT$11.6 million in the prior-year period.

The normalized profit margin rose to 4.8% from negative 4.2% in the year-earlier period.

Total revenue grew 32.7% on an annual basis to NT$363.3 million from NT$273.7 million, and total operating expenses grew 17.6% year over year to NT$350.1 million from NT$297.6 million.

Reported net income totaled NT$19.0 million, or 25 cents per share, compared to a loss of NT$18.0 million, or a loss of 24 cents per share, in the prior-year period.

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