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Zeng Hsing Industrial Q3 profit climbs 29.1% YOY

Zeng Hsing Industrial Co. Ltd. said its normalized net income for the third quarter came to NT$5.05 per share, compared with the S&P Capital IQ consensus estimate of NT$5.01 per share.

EPS rose 28.8% year over year from NT$3.92.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$306.7 million, an increase of 29.1% from NT$237.6 million in the prior-year period.

The normalized profit margin rose to 17.6% from 12.3% in the year-earlier period.

Total revenue decreased 9.7% on an annual basis to NT$1.74 billion from NT$1.93 billion, and total operating expenses decreased 9.9% from the prior-year period to NT$1.42 billion from NT$1.57 billion.

Reported net income rose 26.1% year over year to NT$372.4 million, or NT$6.13 per share, from NT$295.2 million, or NT$4.87 per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.