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Taiwan Sakura Q3 profit climbs 11.0% YOY

Taiwan Sakura Corp. said its normalized net income for the third quarter amounted to 45 Taiwan cents per share, a decline of 8.8% from 49 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$119.5 million, a gain of 11.0% from NT$107.7 million in the year-earlier period.

The normalized profit margin fell to 9.3% from 9.4% in the year-earlier period.

Total revenue rose 12.1% on an annual basis to NT$1.28 billion from NT$1.15 billion, and total operating expenses grew 10.3% year over year to NT$1.12 billion from NT$1.01 billion.

Reported net income increased 6.4% from the prior-year period to NT$157.7 million, or 59 cents per share, from NT$148.2 million, or 68 cents per share.

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