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Chia Tai Enterprises Q3 profit falls YOY

Chia Tai Enterprises International Ltd. said its third-quarter normalized net income came to $1.4 million, a fall of 8.2% from $1.5 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 rose to 5.3% from 5.1% in the year-earlier period.

Total revenue fell 12.0% on an annual basis to $25.8 million from $29.4 million, and total operating expenses decreased 19.1% on an annual basis to $22.6 million from $27.9 million.

Reported net income totaled $1.7 million, compared with $2.2 million in the year-earlier period.