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Taiwan Indigena Botanica swings to loss in Q3

Taiwan Indigena Botanica Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 22 Taiwan cents per share, compared with 5 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 a loss of NT$6.6 million, compared with income of NT$1.3 million in the prior-year period.

The normalized profit margin dropped to negative 84.3% from 3.8% in the year-earlier period.

Total revenue fell 76.6% on an annual basis to NT$7.8 million from NT$33.3 million, and total operating expenses fell 44.4% from the prior-year period to NT$18.3 million from NT$32.8 million.

Reported net income came to a loss of NT$10.5 million, or a loss of 36 cents per share, compared to income of NT$1.3 million, or 5 cents per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to NT$31.98.