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Fine Blanking & Tool Q3 profit climbs 39.0% YOY

Fine Blanking & Tool Co. Ltd. said its normalized net income for the third quarter amounted to 74 Taiwan cents per share, an increase of 39.0% from 53 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$55.7 million, a gain of 39.0% from NT$40.1 million in the year-earlier period.

The normalized profit margin climbed to 6.9% from 4.8% in the year-earlier period.

Total revenue fell year over year to NT$809.6 million from NT$836.7 million, and total operating expenses fell 6.7% year over year to NT$723.9 million from NT$775.5 million.

Reported net income grew 58.4% on an annual basis to NT$80.2 million, or NT$1.06 per share, from NT$50.6 million, or 67 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.