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Taiwan Sanyo Electric Q2 profit climbs 11.5% YOY

Taiwan Sanyo Electric Co. Ltd. said its normalized net income for the second quarter came to 37 Taiwan cents per share, a gain of 11.4% from 33 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$95.2 million, an increase of 11.5% from NT$85.4 million in the year-earlier period.

The normalized profit margin increased to 5.9% from 5.2% in the year-earlier period.

Total revenue came to NT$1.63 billion, compared with NT$1.63 billion in the prior-year period, and total operating expenses decreased year over year to NT$1.48 billion from NT$1.50 billion.

Reported net income rose 23.9% on an annual basis to NT$135.0 million, or 52 cents per share, from NT$108.9 million, or 42 cents per share.

As of Aug. 11, US$1 was equivalent to NT$31.26.