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Taiwan Paiho profit misses consensus by 19.0% in Q3

Taiwan Paiho Ltd said its normalized net income for the third quarter was 97 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.20 per share.

EPS climbed 10.3% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$288.9 million, an increase of 10.2% from NT$262.0 million in the prior-year period.

The normalized profit margin declined to 10.6% from 11.1% in the year-earlier period.

Total revenue grew 15.1% year over year to NT$2.72 billion from NT$2.36 billion, and total operating expenses increased 14.6% from the prior-year period to NT$2.16 billion from NT$1.89 billion.

Reported net income increased 17.0% year over year to NT$348.8 million, or NT$1.17 per share, from NT$298.2 million, or 100 cents per share.

As of Nov. 9, US$1 was equivalent to NT$31.55.