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Everest Textile Q3 profit climbs 11.1% YOY

Everest Textile Co. Ltd. said its third-quarter normalized net income came to 17 Taiwan cents per share, a gain of 11.0% from 15 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 NT$75.8 million, a gain of 11.1% from NT$68.2 million in the year-earlier period.

The normalized profit margin rose to 3.3% from 3.3% in the year-earlier period.

Total revenue climbed 10.7% on an annual basis to NT$2.27 billion from NT$2.05 billion, and total operating expenses rose 8.6% year over year to NT$2.12 billion from NT$1.96 billion.

Reported net income rose 14.4% year over year to NT$105.2 million, or 23 cents per share, from NT$91.9 million, or 20 cents per share.

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