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TTFB profit misses consensus by 36.1% in Q3

TTFB Co. Ltd. said its normalized net income for the third quarter came to NT$2.34 per share, compared with the S&P Capital IQ consensus estimate of NT$3.65 per share.

EPS decreased 6.3% year over year from NT$2.49.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$54.4 million, a decline of 6.3% from NT$58.1 million in the year-earlier period.

The normalized profit margin declined to 6.1% from 7.4% in the year-earlier period.

Total revenue increased 13.8% year over year to NT$890.7 million from NT$782.8 million, and total operating expenses rose 16.6% from the prior-year period to NT$807.5 million from NT$692.5 million.

Reported net income decreased 5.2% from the prior-year period to NT$72.8 million, or NT$3.13 per share, from NT$76.8 million, or NT$3.30 per share.

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