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Sun Race Sturmey-Archer Q3 profit climbs YOY

Sun Race Sturmey-Archer Inc. said its normalized net income for the third quarter came to 69 Taiwan cents per share, an increase from 17 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$34.3 million, a gain from NT$8.7 million in the year-earlier period.

The normalized profit margin increased to 14.7% from 4.7% in the year-earlier period.

Total revenue rose 25.1% on an annual basis to NT$233.3 million from NT$186.4 million, and total operating expenses increased 23.1% on an annual basis to NT$211.4 million from NT$171.7 million.

Reported net income grew year over year to NT$48.5 million, or 97 cents per share, from NT$12.0 million, or 24 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.