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Actron Technology profit misses consensus by 52.7% in Q3

Actron Technology Corp. said its third-quarter normalized net income was 90 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.91 per share.

EPS decreased 48.8% year over year from NT$1.76.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$68.0 million, a decrease of 48.8% from NT$132.8 million in the year-earlier period.

The normalized profit margin dropped to 8.4% from 16.6% in the year-earlier period.

Total revenue totaled NT$805.5 million, compared with NT$800.6 million in the year-earlier period, and total operating expenses totaled NT$665.5 million, compared with NT$669.0 million in the year-earlier period.

Reported net income fell 51.0% year over year to NT$86.6 million, or NT$1.15 per share, from NT$176.9 million, or NT$2.35 per share.

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