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Tai Roun Products Q3 profit falls YOY

Tai Roun Products Co. Ltd. said its normalized net income for the third quarter was 21 Taiwan cents per share, a decrease from 22 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$37.0 million, a decline from NT$38.7 million in the year-earlier period.

The normalized profit margin climbed to 5.3% from 4.7% in the year-earlier period.

Total revenue fell 16.2% year over year to NT$694.1 million from NT$828.4 million, and total operating expenses decreased 14.7% on an annual basis to NT$658.3 million from NT$771.7 million.

Reported net income declined 28.1% on an annual basis to NT$40.9 million, or 23 cents per share, from NT$56.8 million, or 32 cents per share.

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