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Tah Hsin Industrial Q3 profit falls YOY

Tah Hsin Industrial Corp. said its third-quarter normalized net income came to 60 Taiwan cents per share, a decrease of 8.0% from 65 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$113.8 million, a decline of 8.0% from NT$123.7 million in the year-earlier period.

The normalized profit margin fell to 13.3% from 16.5% in the year-earlier period.

Total revenue increased 14.7% on an annual basis to NT$858.5 million from NT$748.3 million, and total operating expenses grew 11.6% year over year to NT$800.9 million from NT$717.7 million.

Reported net income fell 6.3% year over year to NT$171.8 million, or 90 cents per share, from NT$183.2 million, or 96 cents per share.

As of Nov. 11, US$1 was equivalent to NT$31.93.