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Phoenix Tours International profit misses consensus by 19.6% in Q3

Phoenix Tours International Inc. said its normalized net income for the third quarter was 85 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.06 per share.

EPS increased 32.9% year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$53.3 million, an increase of 30.2% from NT$40.9 million in the prior-year period.

The normalized profit margin increased to 5.6% from 3.9% in the year-earlier period.

Total revenue decreased 9.2% year over year to NT$957.0 million from NT$1.05 billion, and total operating expenses decreased 9.9% from the prior-year period to NT$901.2 million from NT$1.00 billion.

Reported net income rose 32.9% on an annual basis to NT$83.2 million, or NT$1.33 per share, from NT$62.6 million, or 98 cents per share.

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