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Star Comgistic Capital swings to loss in Q3

Star Comgistic Capital Co. Ltd. said its third-quarter normalized net income amounted to a loss of 3 Taiwan cents per share, compared with 10 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 a loss of NT$4.5 million, compared with income of NT$26.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.1% from 0.7% in the year-earlier period.

Total revenue increased year over year to NT$4.01 billion from NT$3.84 billion, and total operating expenses increased 5.6% on an annual basis to NT$3.98 billion from NT$3.77 billion.

Reported net income came to a loss of NT$17,000, or a loss of 0 cents per share, compared to income of NT$67.0 million, or 26 cents per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to NT$32.83.