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Nan-Yang Dyeing & Finishing Q3 profit falls YOY

Nan-Yang Dyeing & Finishing Co. Ltd. said its normalized net income for the third quarter came to 34 Taiwan cents per share, a decline of 11.2% from 38 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 NT$24.5 million, a decrease of 11.2% from NT$27.5 million in the year-earlier period.

The normalized profit margin rose to 15.7% from 15.5% in the year-earlier period.

Total revenue decreased 12.0% year over year to NT$156.1 million from NT$177.5 million, and total operating expenses fell 11.1% from the prior-year period to NT$119.8 million from NT$134.6 million.

Reported net income fell 9.8% year over year to NT$33.9 million, or 47 cents per share, from NT$37.6 million, or 52 cents per share.

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