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Tah Tong Textile Q3 loss narrows YOY

Tah Tong Textile Co. Ltd. said its third-quarter normalized net income amounted to a loss of 18 Taiwan cents per share, compared with a loss of 62 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$11.1 million, compared with a loss of NT$38.2 million in the prior-year period.

The normalized profit margin increased to negative 2.5% from negative 8.0% in the year-earlier period.

Total revenue decreased 6.6% year over year to NT$446.9 million from NT$478.5 million, and total operating expenses declined 17.8% from the prior-year period to NT$461.1 million from NT$560.8 million.

Reported net income came to a loss of NT$18.4 million, or a loss of 30 cents per share, compared to a loss of NT$60.6 million, or a loss of 98 cents per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to NT$32.72.