Redhorse Corp. said its third-quarter normalized net income amounted to 6 Taiwan cents per share, a decrease of 78.8% from 26 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 NT$2.4 million, a decrease of 78.8% from NT$11.2 million in the prior-year period.

The normalized profit margin dropped to 0.3% from 1.3% in the year-earlier period.

Total revenue increased year over year to NT$869.9 million from NT$850.9 million, and total operating expenses climbed 5.0% on an annual basis to NT$870.8 million from NT$829.4 million.

Reported net income declined 91.3% on an annual basis to NT$1.6 million, or 4 cents per share, from NT$18.1 million, or 42 cents per share.

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