TAIPEI, Taiwan (BRAIN) — Merida, one of the largest bike makers in Taiwan and a significant investor in Specialized, posted third-quarter revenues of NT$7.3 billion ($256 million), down slightly from the NT$7.8 billion the manufacturer generated in the same quarter last year.
Merida’s earnings, however, were up 57%, from NT$862 million last year to NT$1.35 billion this year.
Earnings per share were also up steeply, from NT$2.88 this quarter last year to NT$4.51 in the quarter this year.
In the first three quarters of this year, Merida reported net profit of NT$2.91 billion, up 53 percent from NT$1.91 billion in the same period in 2019.
Merida also released sales figures for October, the first month of its fourth quarter. Operating revenue in the month was NT$2.8 billion, down 17% from the same month last year. Merida did not release earnings figures for the month.
