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Hong Ho Precision Textile profit misses consensus by 80.0% in Q3

Hong Ho Precision Textile Co. Ltd. said its normalized net income for the third quarter was NT$850,630, compared with a loss of NT$718,130 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.4% from negative 0.3% in the year-earlier period.

Total revenue rose 11.0% year over year to NT$240.6 million from NT$216.7 million, and total operating expenses climbed 16.4% year over year to NT$257.3 million from NT$221.0 million.

Reported net income totaled a loss of NT$1.4 million, or a loss of 1 cents per share, compared to a loss of NT$1.9 million, or a loss of 1 cents per share, in the prior-year period.

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