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Formosa Optical Technology Q3 profit climbs YOY

Formosa Optical Technology Co. Ltd. said its third-quarter normalized net income amounted to NT$1.48 per share, a gain from NT$1.42 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$88.7 million, an increase from NT$85.3 million in the year-earlier period.

The normalized profit margin dropped to 12.5% from 12.9% in the year-earlier period.

Total revenue rose 6.9% on an annual basis to NT$709.0 million from NT$663.0 million, and total operating expenses rose 8.9% year over year to NT$670.5 million from NT$615.7 million.

Reported net income grew year over year to NT$119.0 million, or NT$1.98 per share, from NT$113.6 million, or NT$1.89 per share.

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