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Chuwa Wool Industry (Taiwan) Q3 profit falls YOY

Chuwa Wool Industry Co. (Taiwan) Ltd. said its third-quarter normalized net income was NT$326,880, a decrease of 74.3% from NT$1.3 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.4% from 1.6% in the year-earlier period.

Total revenue declined 8.0% year over year to NT$75.4 million from NT$82.0 million, and total operating expenses fell 7.0% year over year to NT$79.9 million from NT$85.9 million.

Reported net income rose year over year to NT$3.9 million, or 4 cents per share, from NT$175,000, or 0 cents per share.

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