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Largan Precision Q3 profit climbs 53.0% YOY

Largan Precision Co. Ltd. said its normalized net income for the third quarter amounted to NT$42.58 per share, compared with the S&P Capital IQ consensus estimate of NT$49.53 per share.

EPS increased 52.8% year over year from NT$27.87.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$5.76 billion, a gain of 53.0% from NT$3.77 billion in the prior-year period.

The normalized profit margin increased to 35.8% from 31.2% in the year-earlier period.

Total revenue grew 33.1% on an annual basis to NT$16.09 billion from NT$12.09 billion, and total operating expenses rose 29.8% on an annual basis to NT$8.67 billion from NT$6.68 billion.

Reported net income grew 55.3% year over year to NT$8.21 billion, or NT$60.62 per share, from NT$5.29 billion, or NT$39.11 per share.

As of Nov. 9, US$1 was equivalent to NT$32.83.