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Universal InCorp Q3 profit climbs YOY

Universal InCorp. said its normalized net income for the third quarter was 34 Taiwan cents per share, a gain from 11 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$29.0 million, an increase from NT$9.2 million in the prior-year period.

The normalized profit margin climbed to 11.8% from 3.7% in the year-earlier period.

Total revenue came to NT$246.9 million, compared with NT$244.9 million in the year-earlier period, and total operating expenses declined 7.2% from the prior-year period to NT$230.1 million from NT$247.9 million.

Reported net income grew from the prior-year period to NT$36.2 million, or 42 cents per share, from NT$11.1 million, or 13 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.