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Xinyi Automobile Glass Hong Kong swings to profit in Q3

Xinyi Automobile Glass Hong Kong Enterprises Ltd. said its third-quarter normalized net income amounted to HK$465,000, compared with a loss of HK$388,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.7% from negative 3.2% in the year-earlier period.

Total revenue increased on an annual basis to HK$12.6 million from HK$12.2 million, and total operating expenses fell 7.8% on an annual basis to HK$11.9 million from HK$12.9 million.

Reported net income came to HK$415,000, or 0 cents per share, compared to a loss of HK$1.3 million, or a loss of 0 cents per share, in the year-earlier period.