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MJ International Q3 profit climbs YOY

MJ International Co. Ltd. said its third-quarter normalized net income was NT$1.77 per share, compared with the S&P Capital IQ consensus estimate of NT$1.70 per share.

EPS climbed year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$105.2 million, a gain from NT$11.9 million in the prior-year period.

The normalized profit margin rose to 12.7% from 1.4% in the year-earlier period.

Total revenue fell on an annual basis to NT$831.1 million from NT$851.7 million, and total operating expenses declined 7.5% from the prior-year period to NT$673.8 million from NT$728.6 million.

Reported net income totaled NT$136.1 million, or NT$2.29 per share, compared to a loss of NT$12.9 million, or a loss of 22 cents per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to NT$31.98.