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Shin Tai Industry Q3 profit climbs YOY

Shin Tai Industry Co. Ltd. said its third-quarter normalized net income was NT$1.36 per share, an increase from 57 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$80.3 million, an increase from NT$33.5 million in the prior-year period.

The normalized profit margin increased to 185.3% from 90.7% in the year-earlier period.

Total revenue climbed 17.2% on an annual basis to NT$43.3 million from NT$37.0 million, and total operating expenses climbed from the prior-year period to NT$72.8 million from NT$29.1 million.

Reported net income increased year over year to NT$127.3 million, or NT$2.15 per share, from NT$55.9 million, or 95 cents per share.

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