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Reward Wool Industry Q3 loss widens 51.0% YOY

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Reward Wool Industry Q3 loss widens 51.0% YOY

Reward Wool Industry Corp. said its normalized net income for the third quarter came to a loss of 6 Taiwan cents per share, compared with a loss of 4 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 a loss of NT$10.5 million, compared with a loss of NT$7.0 million in the year-earlier period.

The normalized profit margin dropped to negative 8.0% from negative 3.6% in the year-earlier period.

Total revenue fell 31.2% on an annual basis to NT$132.4 million from NT$192.5 million, and total operating expenses decreased 29.5% year over year to NT$148.5 million from NT$210.7 million.

Reported net income totaled a loss of NT$16.8 million, or a loss of 10 cents per share, compared to a loss of NT$20.5 million, or a loss of 12 cents per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to NT$32.73.