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Shenzhen Terca Technology Q2 profit falls YOY

Shenzhen Terca Technology Co. Ltd. said its normalized net income for the second quarter amounted to 1 fen per share, a decline of 51.3% from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million yuan, a decline of 39.9% from 4.5 million yuan in the year-earlier period.

The normalized profit margin increased to 9.1% from 8.3% in the year-earlier period.

Total revenue declined 31.1% year over year to 37.8 million yuan from 54.8 million yuan, and total operating expenses declined 29.7% year over year to 33.9 million yuan from 48.2 million yuan.

Reported net income rose 13.0% from the prior-year period to 4.6 million yuan, or 2 fen per share, from 4.1 million yuan, or 2 fen per share.

As of Aug. 15, US$1 was equivalent to 6.64 yuan.