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Acelon Chemicals & Fiber swings to loss in Q3

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Acelon Chemicals & Fiber swings to loss in Q3

Acelon Chemicals & Fiber Corp. said its third-quarter normalized net income came to a loss of 17 Taiwan cents per share, compared with 15 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 a loss of NT$19.2 million, compared with income of NT$16.4 million in the prior-year period.

The normalized profit margin declined to negative 2.1% from 1.6% in the year-earlier period.

Total revenue decreased 11.0% year over year to NT$915.6 million from NT$1.03 billion, and total operating expenses decreased 10.3% year over year to NT$928.9 million from NT$1.04 billion.

Reported net income came to a loss of NT$13.5 million, or a loss of 12 cents per share, compared to income of NT$21.9 million, or 20 cents per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to NT$31.93.