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Hung Chou Fiber Q3 loss narrows YOY

Hung Chou Fiber Ind. Co. Ltd. said its normalized net income for the third quarter was a loss of 11 Taiwan cents per share, compared with a loss of 22 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 a loss of NT$15.0 million, compared with a loss of NT$29.3 million in the prior-year period.

The normalized profit margin climbed to negative 2.6% from negative 5.0% in the year-earlier period.

Total revenue declined on an annual basis to NT$575.6 million from NT$590.5 million, and total operating expenses decreased 6.8% from the prior-year period to NT$597.7 million from NT$641.6 million.

Reported net income came to a loss of NT$23.6 million, or a loss of 18 cents per share, compared to a loss of NT$37.0 million, or a loss of 28 cents per share, in the year-earlier period.

As of Nov. 15, US$1 was equivalent to NT$31.78.