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Lion Travel Service profit misses consensus by 54.0% in Q3

Lion Travel Service Co. Ltd. said its normalized net income for the third quarter was NT$1.15 per share, compared with the S&P Capital IQ consensus estimate of NT$2.50 per share.

EPS fell 22.3% year over year from NT$1.48.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$80.6 million, a decrease of 22.3% from NT$103.7 million in the prior-year period.

The normalized profit margin fell to 1.3% from 1.9% in the year-earlier period.

Total revenue grew 11.6% year over year to NT$6.13 billion from NT$5.50 billion, and total operating expenses increased 13.0% on an annual basis to NT$6.05 billion from NT$5.36 billion.

Reported net income fell 26.9% year over year to NT$101.1 million, or NT$1.44 per share, from NT$138.3 million, or NT$1.97 per share.

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