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Wisher Industrial Q3 profit falls YOY

Wisher Industrial Co. Ltd. said its third-quarter normalized net income amounted to NT$734,000, a decrease of 97.9% from NT$35.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.1% from 5.6% in the year-earlier period.

Total revenue decreased 15.1% on an annual basis to NT$531.7 million from NT$625.9 million, and total operating expenses fell 15.1% from the prior-year period to NT$506.8 million from NT$597.1 million.

Reported net income fell 86.0% year over year to NT$7.3 million, or 7 cents per share, from NT$51.9 million, or 50 cents per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.