NanKang Rubber Tire Corp. Ltd. said its normalized net income for the third quarter came to 25 Taiwan cents per share, an increase from 2 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$204.8 million, an increase from NT$16.9 million in the year-earlier period.
The normalized profit margin increased to 7.9% from 0.6% in the year-earlier period.
Total revenue declined 6.9% on an annual basis to NT$2.59 billion from NT$2.78 billion, and total operating expenses decreased 13.7% on an annual basis to NT$2.30 billion from NT$2.67 billion.
Reported net income came to NT$230.4 million, or 28 cents per share, compared to a loss of NT$14.7 million, or a loss of 2 cents per share, in the prior-year period.
As of Nov. 12, US$1 was equivalent to NT$32.73.