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Hey-song Q2 profit climbs YOY

Hey-Song Corp. said its second-quarter normalized net income came to 27 Taiwan cents per share, an increase from 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$110.1 million, an increase from NT$41.5 million in the year-earlier period.

The normalized profit margin climbed to 7.2% from 2.9% in the year-earlier period.

Total revenue grew 6.7% on an annual basis to NT$1.53 billion from NT$1.43 billion, and total operating expenses totaled NT$1.52 billion, compared with NT$1.52 billion in the prior-year period.

Reported net income grew year over year to NT$152.8 million, or 38 cents per share, from NT$52.3 million, or 13 cents per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.