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Kuobrothers Q3 profit falls YOY

Kuobrothers Corp. said its normalized net income for the third quarter came to 27 Taiwan cents per share, a decrease of 29.4% from 38 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 NT$4.9 million, a decrease of 28.6% from NT$6.9 million in the prior-year period.

The normalized profit margin dropped to 0.7% from 1.2% in the year-earlier period.

Total revenue rose 15.5% year over year to NT$695.3 million from NT$602.0 million, and total operating expenses grew 16.4% on an annual basis to NT$690.4 million from NT$593.0 million.

Reported net income decreased 29.4% on an annual basis to NT$6.5 million, or 35 cents per share, from NT$9.2 million, or 50 cents per share.

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