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Taiwan Taffeta Fabric Q3 profit falls YOY

Taiwan Taffeta Fabric Co. Ltd. its third-quarter normalized net income came to 14 Taiwan cents per share, a decline of 6.3% from 15 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$18.2 million, a decline of 5.7% from NT$19.3 million in the year-earlier period.

The normalized profit margin climbed to 3.5% from 3.4% in the year-earlier period.

Total revenue decreased 7.4% year over year to NT$520.1 million from NT$561.5 million, and total operating expenses declined 6.8% from the prior-year period to NT$507.5 million from NT$544.3 million.

Reported net income declined 13.0% on an annual basis to NT$25.1 million, or 19 cents per share, from NT$28.9 million, or 22 cents per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.