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Depo Auto Parts Industrial Q3 profit falls YOY

Depo Auto Parts Industrial Co. Ltd. said its normalized net income for the third quarter amounted to 63 Taiwan cents per share, a decline of 77.0% from NT$2.72 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$104.2 million, a decrease of 77.0% from NT$453.4 million in the year-earlier period.

The normalized profit margin declined to 2.8% from 12.4% in the year-earlier period.

Total revenue rose on an annual basis to NT$3.79 billion from NT$3.66 billion, and total operating expenses increased 7.2% year over year to NT$3.46 billion from NT$3.23 billion.

Reported net income decreased 81.6% year over year to NT$116.6 million, or 70 cents per share, from NT$633.0 million, or NT$3.80 per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.