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Yulon Motor profit misses consensus by 66.1% in Q3

Yulon Motor Co. Ltd. said its third-quarter normalized net income was 27 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS decreased 47.7% year over year from 52 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$399.1 million, a decline of 47.7% from NT$763.3 million in the year-earlier period.

The normalized profit margin dropped to 1.3% from 2.3% in the year-earlier period.

Total revenue declined 10.4% on an annual basis to NT$29.63 billion from NT$33.06 billion, and total operating expenses declined 8.3% on an annual basis to NT$29.40 billion from NT$32.06 billion.

Reported net income fell 33.8% on an annual basis to NT$775.5 million, or 53 cents per share, from NT$1.17 billion, or 80 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.