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Jiangsu Olive Sensors Q3 profit climbs 24.3% YOY

Jiangsu Olive Sensors High-Tech Co. Ltd. said its normalized net income for the third quarter was 16 fen per share, a gain from 15 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 16.7 million yuan, a gain of 24.3% from 13.4 million yuan in the prior-year period.

The normalized profit margin fell to 12.3% from 12.4% in the year-earlier period.

Total revenue grew 25.4% on an annual basis to 135.4 million yuan from 108.0 million yuan, and total operating expenses rose 26.3% year over year to 108.1 million yuan from 85.6 million yuan.

Reported net income increased 24.3% from the prior-year period to 22.8 million yuan, or 21 fen per share, from 18.3 million yuan, or 20 fen per share.

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