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Wisher Industrial Q3 profit climbs YOY

Wisher Industrial Co. Ltd. said its normalized net income for the third quarter was 34 Taiwan cents per share, an increase from 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$35.0 million, a gain from NT$14.7 million in the year-earlier period.

The normalized profit margin rose to 5.6% from 2.1% in the year-earlier period.

Total revenue declined 10.0% on an annual basis to NT$625.9 million from NT$695.3 million, and total operating expenses decreased 11.8% on an annual basis to NT$597.1 million from NT$677.3 million.

Reported net income grew on an annual basis to NT$51.9 million, or 50 cents per share, from NT$22.8 million, or 22 cents per share.

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