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Macauto Industrial Q3 profit climbs YOY

Macauto Industrial Co. Ltd. said its third-quarter normalized net income amounted to NT$1.98 per share, compared with the S&P Capital IQ consensus estimate of NT$2.17 per share.

EPS climbed year over year from 97 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$148.8 million, a gain from NT$72.8 million in the prior-year period.

The normalized profit margin increased to 15.8% from 10.2% in the year-earlier period.

Total revenue increased 31.8% on an annual basis to NT$939.0 million from NT$712.3 million, and total operating expenses rose 25.9% from the prior-year period to NT$757.3 million from NT$601.7 million.

Reported net income grew from the prior-year period to NT$198.2 million, or NT$2.64 per share, from NT$86.4 million, or NT$1.15 per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.