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Lealea Enterprise Q3 profit climbs YOY

Lealea Enterprise Co. Ltd. said its normalized net income for the third quarter was 12 Taiwan cents per share, an increase from 5 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$110.5 million, a gain from NT$46.7 million in the prior-year period.

The normalized profit margin increased to 4.5% from 1.7% in the year-earlier period.

Total revenue fell 12.6% on an annual basis to NT$2.45 billion from NT$2.81 billion, and total operating expenses decreased 14.1% year over year to NT$2.47 billion from NT$2.87 billion.

Reported net income rose 55.9% on an annual basis to NT$133.3 million, or 14 cents per share, from NT$85.5 million, or 9 cents per share.

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