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E-Lead Electronic swings to loss in Q3

E-Lead Electronic Co. Ltd. said its normalized net income for the third quarter was a loss of 11 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.12 per share.

The per-share result swung to a loss from the prior-year profit of 50 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$12.6 million, compared with income of NT$58.9 million in the year-earlier period.

The normalized profit margin declined to negative 1.9% from 6.4% in the year-earlier period.

Total revenue decreased 27.6% year over year to NT$664.9 million from NT$918.5 million, and total operating expenses decreased 23.1% on an annual basis to NT$670.2 million from NT$871.6 million.

Reported net income came to a loss of NT$16.6 million, or a loss of 14 cents per share, compared to income of NT$76.0 million, or 64 cents per share, in the year-earlier period.

As of Nov. 3, US$1 was equivalent to NT$31.49.