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Electric Power Technology swings to profit in Q2

Electric Power Technology Ltd. said its second-quarter normalized net income amounted to 14 Taiwan cents per share, compared with a loss of 35 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$11.0 million, compared with a loss of NT$25.4 million in the prior-year period.

The normalized profit margin was 22.3%.

Total revenue climbed on an annual basis to NT$49.5 million from NT$1.1 million, and total operating expenses climbed year over year to NT$145.9 million from NT$39.8 million.

Reported net income came to a loss of NT$9.0 million, or a loss of 12 cents per share, compared to a loss of NT$39.8 million, or a loss of 55 cents per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to NT$31.33.