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Basso Industry profit misses consensus by 92.6% in Q3

Basso Industry Corp. said its normalized net income for the third quarter came to 14 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.89 per share.

EPS decreased 95.3% year over year from NT$3.00.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$19.3 million, a decrease of 95.6% from NT$437.0 million in the prior-year period.

The normalized profit margin declined to 1.9% from 48.0% in the year-earlier period.

Total revenue grew 8.9% year over year to NT$992.0 million from NT$910.7 million, and total operating expenses grew year over year to NT$764.6 million from NT$749.0 million.

Reported net income declined 96.1% from the prior-year period to NT$24.8 million, or 18 cents per share, from NT$643.9 million, or NT$4.42 per share.

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