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Ruentex Industries profit misses consensus by 17.7% in Q3

Ruentex Industries Ltd said its third-quarter normalized net income was NT$2.41 per share, compared with the S&P Capital IQ consensus estimate of NT$2.93 per share.

EPS increased 39.0% year over year from NT$1.74.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$2.29 billion, an increase of 39.8% from NT$1.64 billion in the prior-year period.

The normalized profit margin increased to 102.3% from 71.6% in the year-earlier period.

Total revenue fell on an annual basis to NT$2.24 billion from NT$2.29 billion, and total operating expenses totaled NT$1.78 billion, compared with NT$1.78 billion in the prior-year period.

Reported net income declined 14.8% on an annual basis to NT$2.70 billion, or NT$2.84 per share, from NT$3.17 billion, or NT$3.36 per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.