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Hanpin Electron Q3 profit climbs 39.0% YOY

Hanpin Electron Co. Ltd. said its normalized net income for the third quarter was NT$1.08 per share, an increase of 38.8% from 78 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$87.3 million, a gain of 39.0% from NT$62.8 million in the year-earlier period.

The normalized profit margin dropped to 9.1% from 9.5% in the year-earlier period.

Total revenue climbed 46.3% year over year to NT$962.1 million from NT$657.6 million, and total operating expenses increased 39.5% on an annual basis to NT$804.6 million from NT$576.8 million.

Reported net income grew 76.5% year over year to NT$119.4 million, or NT$1.48 per share, from NT$67.7 million, or 84 cents per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.