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Li Peng Enterprise swings to loss in Q3

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Li Peng Enterprise swings to loss in Q3

Li Peng Enterprise Co. Ltd. said its third-quarter normalized net income came to a loss of 17 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

The per-share result swung to a loss from the prior-year profit of 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$146.7 million, compared with income of NT$54.2 million in the year-earlier period.

The normalized profit margin fell to negative 4.1% from 1.5% in the year-earlier period.

Total revenue came to NT$3.55 billion, compared with NT$3.54 billion in the prior-year period, and total operating expenses declined 5.9% on an annual basis to NT$3.63 billion from NT$3.86 billion.

Reported net income totaled a loss of NT$189.4 million, or a loss of 22 cents per share, compared to income of NT$60.9 million, or 7 cents per share, in the year-earlier period.

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