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New Palace International Q3 loss widens YOY

New Palace International Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 81 Taiwan cents per share, compared with a loss of 78 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$54.7 million, compared with a loss of NT$52.8 million in the year-earlier period.

The normalized profit margin declined to negative 22.9% from negative 20.0% in the year-earlier period.

Total revenue declined 9.3% on an annual basis to NT$239.1 million from NT$263.5 million, and total operating expenses fell year over year to NT$340.2 million from NT$349.0 million.

Reported net income totaled a loss of NT$80.6 million, or a loss of NT$1.19 per share, compared to a loss of NT$85.6 million, or a loss of NT$1.27 per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to NT$32.73.