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Fulgent Sun International profit misses consensus by 30.1% in Q3

Fulgent Sun International (Holding) Co. Ltd. said its normalized net income for the third quarter amounted to 76 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.08 per share.

EPS climbed 68.9% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$100.3 million, an increase of 74.3% from NT$57.5 million in the year-earlier period.

The normalized profit margin increased to 4.3% from 2.8% in the year-earlier period.

Total revenue increased 15.1% on an annual basis to NT$2.32 billion from NT$2.02 billion, and total operating expenses rose 17.9% on an annual basis to NT$2.28 billion from NT$1.93 billion.

Reported net income fell 26.8% year over year to NT$56.0 million, or 42 cents per share, from NT$76.5 million, or 59 cents per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.