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Lien Hwa Industrial Q3 profit falls YOY

Lien Hwa Industrial Corp. said its third-quarter normalized net income came to 22 Taiwan cents per share, a decrease of 24.8% from 29 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$210.6 million, a decline of 24.8% from NT$280.1 million in the year-earlier period.

The normalized profit margin dropped to 15.4% from 21.0% in the year-earlier period.

Total revenue climbed on an annual basis to NT$1.37 billion from NT$1.34 billion, and total operating expenses came to NT$1.28 billion, compared with NT$1.29 billion in the prior-year period.

Reported net income fell 22.9% from the prior-year period to NT$329.0 million, or 34 cents per share, from NT$426.6 million, or 45 cents per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.