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Hiroca Holdings Q3 profit falls 5.5% YOY

Hiroca Holdings Ltd. said its normalized net income for the third quarter amounted to NT$1.73 per share, compared with the S&P Capital IQ consensus estimate of NT$2.03 per share.

EPS fell 5.4% year over year from NT$1.83.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$145.4 million, a decrease of 5.5% from NT$153.8 million in the prior-year period.

The normalized profit margin increased to 7.9% from 7.4% in the year-earlier period.

Total revenue declined 11.0% on an annual basis to NT$1.85 billion from NT$2.08 billion, and total operating expenses decreased 12.1% year over year to NT$1.63 billion from NT$1.86 billion.

Reported net income declined 17.9% year over year to NT$146.9 million, or NT$1.75 per share, from NT$178.9 million, or NT$2.13 per share.

As of Nov. 11, US$1 was equivalent to NT$31.93.