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Li Peng Enterprise profit beats consensus by 85.6% in Q3

Li Peng Enterprise Co. Ltd. said its normalized net income for the third quarter amounted to 6 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS decreased 62.4% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$54.2 million, a decrease of 62.4% from NT$144.2 million in the year-earlier period.

The normalized profit margin declined to 1.5% from 2.7% in the year-earlier period.

Total revenue declined 32.7% on an annual basis to NT$3.54 billion from NT$5.26 billion, and total operating expenses declined 25.6% year over year to NT$3.86 billion from NT$5.19 billion.

Reported net income fell 70.8% year over year to NT$60.9 million, or 7 cents per share, from NT$209.0 million, or 24 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.