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Airmate International Q2 profit climbs YOY

Airmate (Cayman) International Co Ltd. said its normalized net income for the second quarter came to 66 Taiwan cents per share, an increase from 27 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$97.0 million, a gain from NT$33.6 million in the prior-year period.

The normalized profit margin increased to 2.5% from 0.8% in the year-earlier period.

Total revenue fell 11.8% on an annual basis to NT$3.93 billion from NT$4.45 billion, and total operating expenses decreased 14.0% from the prior-year period to NT$3.75 billion from NT$4.37 billion.

Reported net income grew from the prior-year period to NT$133.7 million, or 90 cents per share, from NT$34.4 million, or 28 cents per share.

As of Aug. 10, US$1 was equivalent to NT$31.65.