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Acelon Chemicals & Fiber swings to profit in Q3

Acelon Chemicals & Fiber Corp. said its third-quarter normalized net income was NT$16.4 million, compared with a loss of NT$290,000 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 1.6% from negative 0.0% in the year-earlier period.

Total revenue declined 20.1% on an annual basis to NT$1.03 billion from NT$1.29 billion, and total operating expenses decreased 19.9% year over year to NT$1.04 billion from NT$1.29 billion.

Reported net income came to NT$21.9 million, or 20 cents per share, compared to a loss of NT$1.1 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.