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Taiyen Biotech Q3 profit falls YOY

Taiyen Biotech Co. Ltd. said its normalized net income for the third quarter amounted to 38 Taiwan cents per share, a decrease of 8.1% from 41 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$75.3 million, a decline of 8.1% from NT$82.0 million in the prior-year period.

The normalized profit margin dropped to 9.6% from 11.2% in the year-earlier period.

Total revenue grew year over year to NT$739.1 million from NT$729.1 million, and total operating expenses decreased on an annual basis to NT$608.2 million from NT$638.2 million.

Reported net income decreased 16.7% on an annual basis to NT$100.1 million, or 50 cents per share, from NT$120.1 million, or 60 cents per share.

As of Nov. 9, US$1 was equivalent to NT$31.55.