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Hota Industrial profit misses consensus by 36.8% in Q3

Hota Industrial Mfg. Co. Ltd. said its normalized net income for the third quarter was 73 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.15 per share.

EPS fell 33.1% year over year from NT$1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$170.9 million, a decline of 33.2% from NT$255.9 million in the year-earlier period.

The normalized profit margin declined to 12.3% from 19.3% in the year-earlier period.

Total revenue climbed 5.0% year over year to NT$1.39 billion from NT$1.33 billion, and total operating expenses rose 5.6% year over year to NT$1.08 billion from NT$1.03 billion.

Reported net income declined 35.2% from the prior-year period to NT$225.7 million, or 96 cents per share, from NT$348.4 million, or NT$1.48 per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.