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Right Way Industrial Q3 profit climbs 22.6% YOY

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Right Way Industrial Q3 profit climbs 22.6% YOY

Right Way Industrial Co. Ltd. said its third-quarter normalized net income was 14 Taiwan cents per share, an increase of 22.6% from 11 cents 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$16.7 million, a gain of 22.6% from NT$13.6 million in the prior-year period.

The normalized profit margin increased to 4.6% from 3.2% in the year-earlier period.

Total revenue declined 14.0% on an annual basis to NT$363.3 million from NT$422.7 million, and total operating expenses declined 11.4% year over year to NT$356.4 million from NT$402.2 million.

Reported net income increased 63.6% from the prior-year period to NT$22.0 million, or 18 cents per share, from NT$13.4 million, or 11 cents per share.

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