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Keysheen Q3 loss narrows YOY

Keysheen (Cayman) Holdings Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 29 Taiwan cents per share, compared with a loss of 57 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 a loss of NT$30.7 million, compared with a loss of NT$61.6 million in the prior-year period.

The normalized profit margin climbed to negative 16.0% from negative 22.4% in the year-earlier period.

Total revenue declined 30.4% on an annual basis to NT$191.4 million from NT$275.1 million, and total operating expenses decreased 20.4% on an annual basis to NT$338.8 million from NT$425.6 million.

Reported net income came to a loss of NT$42.5 million, or a loss of 40 cents per share, compared to a loss of NT$72.1 million, or a loss of 67 cents per share, in the prior-year period.

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