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Shin Shin Co. Ltd. Q3 profit falls YOY

Shin Shin Co. Ltd. said its normalized net income for the third quarter came to 18 Taiwan cents per share, a decline of 16.7% from 22 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 NT$13.3 million, a decline of 16.7% from NT$16.0 million in the year-earlier period.

The normalized profit margin dropped to 27.1% from 30.2% in the year-earlier period.

Total revenue declined 7.2% year over year to NT$49.1 million from NT$52.9 million, and total operating expenses climbed from the prior-year period to NT$29.9 million from NT$29.5 million.

Reported net income fell 17.2% year over year to NT$17.5 million, or 24 cents per share, from NT$21.2 million, or 29 cents per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.