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Ruentex Industries profit misses consensus by 49.5% in Q3

Ruentex Industries Ltd said its third-quarter normalized net income came to NT$1.43 per share, compared with the S&P Capital IQ consensus estimate of NT$2.82 per share.

EPS fell 40.9% year over year from NT$2.41.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.27 billion, a decline of 44.7% from NT$2.29 billion in the year-earlier period.

The normalized profit margin declined to 56.9% from 102.3% in the year-earlier period.

Total revenue came to NT$2.22 billion, compared with NT$2.24 billion in the prior-year period, and total operating expenses fell 9.9% year over year to NT$1.60 billion from NT$1.78 billion.

Reported net income fell 19.1% year over year to NT$2.18 billion, or NT$2.46 per share, from NT$2.70 billion, or NT$2.84 per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.