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Tsang Yow Industrial Q3 profit climbs 67.7% YOY

Tsang Yow Industrial Co. Ltd. said its third-quarter normalized net income amounted to 36 Taiwan cents per share, a gain of 67.6% from 22 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$37.3 million, a gain of 67.7% from NT$22.3 million in the prior-year period.

The normalized profit margin increased to 6.3% from 3.9% in the year-earlier period.

Total revenue climbed 4.9% on an annual basis to NT$593.7 million from NT$565.9 million, and total operating expenses increased year over year to NT$549.5 million from NT$533.5 million.

Reported net income increased 71.6% from the prior-year period to NT$49.6 million, or 48 cents per share, from NT$28.9 million, or 28 cents per share.

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