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Vietnam Manufacturing & Export swings to profit in Q3

Vietnam Manufacturing and Export Processing (Holdings) Ltd said its third-quarter normalized net income was $262,140, compared with a loss of $624,220 in the prior-year period.

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

The normalized profit margin rose to 0.7% from negative 2.1% in the year-earlier period.

Total revenue grew 32.4% on an annual basis to $40.1 million from $30.3 million, and total operating expenses increased 27.8% year over year to $40.4 million from $31.6 million.

Reported net income totaled $402,720, compared with a loss of $1.0 million in the year-earlier period.