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Eclat Textile profit misses consensus by 15.6% in Q3

Eclat Textile Corp. Ltd. said its normalized net income for the third quarter came to NT$3.68 per share, compared with the S&P Capital IQ consensus estimate of NT$4.35 per share.

EPS climbed 48.8% year over year from NT$2.47.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$978.5 million, an increase of 48.8% from NT$657.6 million in the prior-year period.

The normalized profit margin rose to 14.3% from 11.5% in the year-earlier period.

Total revenue increased 20.2% on an annual basis to NT$6.85 billion from NT$5.70 billion, and total operating expenses increased 18.7% on an annual basis to NT$5.59 billion from NT$4.71 billion.

Reported net income increased 48.7% from the prior-year period to NT$1.29 billion, or NT$4.84 per share, from NT$866.0 million, or NT$3.25 per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.