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Topbi International profit misses consensus by 70.6% in Q3

Topbi International Holdings Ltd. said its normalized net income for the third quarter was 62 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$2.13 per share.

EPS fell 66.1% year over year from NT$1.84.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$47.9 million, a decrease of 66.0% from NT$140.9 million in the prior-year period.

The normalized profit margin dropped to 3.5% from 10.9% in the year-earlier period.

Total revenue increased 7.1% year over year to NT$1.38 billion from NT$1.29 billion, and total operating expenses climbed 18.7% on an annual basis to NT$1.30 billion from NT$1.10 billion.

Reported net income decreased 75.9% from the prior-year period to NT$37.3 million, or 49 cents per share, from NT$155.1 million, or NT$2.03 per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.