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Metaltech Industrial Q3 loss narrows YOY

Metaltech Industrial Co. Ltd. said its third-quarter normalized net income came to a loss of 15 Taiwan cents per share, compared with a loss of 60 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$3.4 million, compared with a loss of NT$14.1 million in the prior-year period.

The normalized profit margin rose to negative 21.5% from negative 44.9% in the year-earlier period.

Total revenue fell 49.0% on an annual basis to NT$16.0 million from NT$31.4 million, and total operating expenses fell 52.4% from the prior-year period to NT$20.7 million from NT$43.5 million.

Reported net income totaled a loss of NT$5.1 million, or a loss of 22 cents per share, compared to a loss of NT$22.3 million, or a loss of 94 cents per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to NT$32.83.