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Mr Onion Q3 profit falls YOY

Mr. Onion Corp. said its normalized net income for the third quarter came to 58 Taiwan cents per share, a decline of 60.4% from NT$1.47 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$8.5 million, a decline of 61.1% from NT$21.8 million in the year-earlier period.

The normalized profit margin dropped to 3.6% from 9.0% in the year-earlier period.

Total revenue fell on an annual basis to NT$235.2 million from NT$242.7 million, and total operating expenses climbed 6.7% on an annual basis to NT$222.0 million from NT$208.0 million.

Reported net income declined 65.7% from the prior-year period to NT$9.9 million, or 68 cents per share, from NT$28.9 million, or NT$1.95 per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.