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Carnival Industrial Q3 loss narrows YOY

Carnival Industrial Corp. said its normalized net income for the third quarter came to a loss of 16 Taiwan cents per share, compared with a loss of 20 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 a loss of NT$59.4 million, compared with a loss of NT$74.3 million in the prior-year period.

The normalized profit margin dropped to negative 8.4% from negative 8.3% in the year-earlier period.

Total revenue fell 20.1% year over year to NT$710.8 million from NT$889.3 million, and total operating expenses fell 21.0% on an annual basis to NT$829.8 million from NT$1.05 billion.

Reported net income came to a loss of NT$88.9 million, or a loss of 23 cents per share, compared to a loss of NT$129.4 million, or a loss of 34 cents per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to NT$31.93.