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AAC Technologies Holdings profit misses consensus by 33.2% in Q3

AAC Technologies Holdings Inc. said its normalized net income for the third quarter amounted to 77 fen per share, compared with the S&P Capital IQ consensus estimate of 1.15 yuan per share.

EPS rose 19.0% year over year from 64 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 937.2 million yuan, an increase of 18.4% from 791.4 million yuan in the prior-year period.

The normalized profit margin fell to 17.6% from 18.8% in the year-earlier period.

Total revenue climbed 26.6% on an annual basis to 5.32 billion yuan from 4.21 billion yuan, and total operating expenses increased 27.2% year over year to 3.81 billion yuan from 2.99 billion yuan.

Reported net income increased 24.1% on an annual basis to 1.37 billion yuan, or 1.12 yuan per share, from 1.10 billion yuan, or 90 fen per share.

As of Nov. 10, US$1 was equivalent to 6.64 yuan.