U-Best Innovative Technology Co., Ltd. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 11, 2019 at 12:48 pm EST
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U-Best Innovative Technology Co., Ltd. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was TWD 127.024 million compared to TWD 111.579 million a year ago. Operating income was TWD 384,000 compared to operating loss of TWD 4.742 million a year ago. Net income was TWD 47.691 million compared to TWD 81.450 million a year ago. Basic earnings per share from continuing operations was TWD 0.43 compared to TWD 0.98 a year ago. Basic earnings per share was TWD 0.46 compared to TWD 0.93 a year ago. Diluted earnings per share from continuing operations was TWD 0.37 compared to TWD 0.81 a year ago. Diluted earnings per share was TWD 0.39 compared to TWD 0.77 a year ago. For the nine months, sales was TWD 340.416 million compared to TWD 378.657 million a year ago. Operating loss was TWD 14.992 million compared to TWD 15.511 million a year ago. Net income was TWD 76.070 million compared to TWD 71.313 million a year ago. Basic earnings per share from continuing operations was TWD 0.22 compared to TWD 0.88 a year ago. Basic earnings per share was TWD 0.74 compared to TWD 0.82 a year ago. Diluted earnings per share from continuing operations was TWD 0.2 compared to TWD 0.82 a year ago. Diluted earnings per share was TWD 0.63 compared to TWD 0.76 a year ago.
U-BEST INNOVATIVE TECHNOLOGY CO., LTD., formerly U-Best Polymer Industry Co., Ltd., is a Taiwan-based company principally engaged in the manufacture and sale of macromolecule chemical raw materials. The Company is primarily engaged in the production of polyurethane (PU) resins, PU adhesives, nylon resins and polyester polyol. The products are mainly used in the manufacture of PU synthetic leather and artificial leather for footwear, purses and garments, the molding of nylon, the bonding of various fibers, as well as the manufacture of waterproof nylon fabrics for raincoats, suitcases and tents. The Company distributes its products within the domestic market and to overseas markets.