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Hota Industrial Q3 profit climbs 81.4% YOY

Hota Industrial Mfg. Co. Ltd. said its normalized net income for the third quarter amounted to NT$1.13 per share, compared with the S&P Capital IQ consensus estimate of NT$1.18 per share.

EPS rose 81.2% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$265.3 million, an increase of 81.4% from NT$146.3 million in the prior-year period.

The normalized profit margin rose to 19.3% from 13.4% in the year-earlier period.

Total revenue increased 21.6% year over year to NT$1.33 billion from NT$1.09 billion, and total operating expenses climbed 16.2% on an annual basis to NT$1.03 billion from NT$883.8 million.

Reported net income increased 90.9% on an annual basis to NT$348.4 million, or NT$1.48 per share, from NT$182.5 million, or 78 cents per share.

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