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Eminent Luggage Q3 profit climbs 22.6% YOY

Eminent Luggage Corp. said its normalized net income for the third quarter amounted to 39 Taiwan cents per share, an increase of 22.6% from 32 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$27.4 million, a gain of 22.6% from NT$22.4 million in the prior-year period.

The normalized profit margin climbed to 2.9% from 2.4% in the year-earlier period.

Total revenue increased year over year to NT$951.3 million from NT$933.7 million, and total operating expenses rose on an annual basis to NT$931.2 million from NT$906.6 million.

Reported net income rose 19.5% from the prior-year period to NT$31.9 million, or 45 cents per share, from NT$26.7 million, or 38 cents per share.

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