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Fine Blanking & Tool Q3 profit falls YOY

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Fine Blanking & Tool Q3 profit falls YOY

Fine Blanking & Tool Co. Ltd. said its third-quarter normalized net income amounted to 61 Taiwan cents per share, a decrease of 17.1% from 74 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$46.2 million, a decline of 17.1% from NT$55.7 million in the year-earlier period.

The normalized profit margin dropped to 5.7% from 6.9% in the year-earlier period.

Total revenue totaled NT$811.5 million, compared with NT$809.6 million in the prior-year period, and total operating expenses came to NT$716.8 million, compared with NT$723.9 million in the year-earlier period.

Reported net income decreased 23.5% year over year to NT$61.4 million, or 81 cents per share, from NT$80.2 million, or NT$1.06 per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.