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G&E Herbal Biotechnology swings to loss in Q3

G&E Herbal Biotechnology Co. Ltd. said its third-quarter normalized net income came to a loss of 2 Taiwan cents per share, compared with 5 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 a loss of NT$881,880, compared with income of NT$2.6 million in the year-earlier period.

The normalized profit margin declined to negative 6.3% from 13.5% in the year-earlier period.

Total revenue fell 26.3% on an annual basis to NT$14.1 million from NT$19.1 million, and total operating expenses increased 37.2% year over year to NT$23.2 million from NT$16.9 million.

Reported net income came to a loss of NT$2.3 million, or a loss of 4 cents per share, compared to income of NT$3.4 million, or 6 cents per share, in the prior-year period.

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