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Macauto Industrial profit misses consensus by 28.6% in Q3

Macauto Industrial Co. Ltd. said its third-quarter normalized net income came to NT$1.70 per share, compared with the S&P Capital IQ consensus estimate of NT$2.39 per share.

EPS decreased 14.0% year over year from NT$1.98.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$127.9 million, a decrease of 14.0% from NT$148.8 million in the year-earlier period.

The normalized profit margin dropped to 11.3% from 15.8% in the year-earlier period.

Total revenue climbed 21.0% on an annual basis to NT$1.14 billion from NT$939.0 million, and total operating expenses grew 19.5% from the prior-year period to NT$904.8 million from NT$757.3 million.

Reported net income decreased 20.5% year over year to NT$157.6 million, or NT$2.10 per share, from NT$198.2 million, or NT$2.64 per share.

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