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Metaltech Industrial Q3 loss widens YOY

Metaltech Industrial Co. Ltd. said its third-quarter normalized net income was a loss of 36 Taiwan cents per share, compared with a loss of 15 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$9.2 million, compared with a loss of NT$3.4 million in the prior-year period.

The normalized profit margin declined to negative 135.9% from negative 21.5% in the year-earlier period.

Total revenue declined 57.9% on an annual basis to NT$6.7 million from NT$16.0 million, and total operating expenses decreased 34.0% from the prior-year period to NT$13.7 million from NT$20.7 million.

Reported net income came to a loss of NT$15.2 million, or a loss of 59 cents per share, compared to a loss of NT$5.1 million, or a loss of 22 cents per share, in the year-earlier period.

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