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Yi Jinn Industrial profit beats consensus by 54.9% in Q3

Yi Jinn Industrial Co. Ltd. said its third-quarter normalized net income was 21 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS climbed year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$48.9 million, an increase from NT$9.9 million in the year-earlier period.

The normalized profit margin rose to 3.8% from 0.9% in the year-earlier period.

Total revenue rose 16.0% year over year to NT$1.28 billion from NT$1.10 billion, and total operating expenses grew 21.3% year over year to NT$1.29 billion from NT$1.06 billion.

Reported net income grew 47.2% on an annual basis to NT$34.2 million, or 14 cents per share, from NT$23.2 million, or 10 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.