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TTET Union Q3 profit climbs 87.0% YOY

TTET Union Corp. said its normalized net income for the third quarter came to NT$1.28 per share, a gain of 86.8% from 69 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$205.5 million, an increase of 87.0% from NT$109.9 million in the year-earlier period.

The normalized profit margin climbed to 4.6% from 2.0% in the year-earlier period.

Total revenue declined 18.3% on an annual basis to NT$4.42 billion from NT$5.41 billion, and total operating expenses fell 21.0% from the prior-year period to NT$4.16 billion from NT$5.27 billion.

Reported net income rose 84.1% on an annual basis to NT$273.9 million, or NT$1.71 per share, from NT$148.8 million, or 93 cents per share.

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