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Chyang Sheng Dyeing & Finishing Q3 profit falls YOY

Chyang Sheng Dyeing & Finishing Co. Ltd. said its third-quarter normalized net income came to 10 Taiwan cents per share, a decline from 11 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$16.7 million, a decline from NT$17.1 million in the year-earlier period.

The normalized profit margin rose to 13.7% from 12.9% in the year-earlier period.

Total revenue decreased 8.5% on an annual basis to NT$121.9 million from NT$133.2 million, and total operating expenses fell 7.1% from the prior-year period to NT$118.7 million from NT$127.8 million.

Reported net income fell 7.3% year over year to NT$24.3 million, or 15 cents per share, from NT$26.2 million, or 16 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.