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Tainan Enterprise Q3 loss narrows YOY

Tainan Enterprise (Cayman) Co. Ltd. said its third-quarter normalized net income was a loss of NT$2.62 per share, compared with a loss of NT$4.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$78.4 million, compared with a loss of NT$130.7 million in the year-earlier period.

The normalized profit margin climbed to negative 38.7% from negative 47.8% in the year-earlier period.

Total revenue declined 26.0% on an annual basis to NT$202.4 million from NT$273.5 million, and total operating expenses declined 31.8% from the prior-year period to NT$325.0 million from NT$476.3 million.

Reported net income totaled a loss of NT$126.4 million, or a loss of NT$4.22 per share, compared to a loss of NT$211.2 million, or a loss of NT$7.05 per share, in the year-earlier period.

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