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Luhai Holding profit misses consensus by 17.0% in Q3

Luhai Holding Corp. said its normalized net income for the third quarter amounted to 58 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS declined year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$51.9 million, an increase of 9.8% from NT$47.3 million in the year-earlier period.

The normalized profit margin rose to 8.9% from 7.5% in the year-earlier period.

Total revenue decreased 7.5% on an annual basis to NT$580.7 million from NT$627.9 million, and total operating expenses fell 5.6% from the prior-year period to NT$520.7 million from NT$551.5 million.

Reported net income rose 16.6% year over year to NT$67.9 million, or 76 cents per share, from NT$58.3 million, or 74 cents per share.

As of Nov. 9, US$1 was equivalent to NT$32.83.