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Largan Precision profit misses consensus by 39.2% in Q1

Largan Precision Co. Ltd. said its normalized net income for the first quarter came to NT$26.52 per share, compared with the S&P Capital IQ consensus estimate of NT$43.62 per share.

EPS increased 36.9% year over year from NT$19.37.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.58 billion, a gain of 35.6% from NT$2.64 billion in the prior-year period.

The normalized profit margin increased to 33.1% from 31.9% in the year-earlier period.

Total revenue climbed 30.7% year over year to NT$10.81 billion from NT$8.27 billion, and total operating expenses came to NT$4.12 billion, compared with NT$4.09 billion in the prior-year period.

Reported net income rose 34.8% on an annual basis to NT$4.88 billion, or NT$36.22 per share, from NT$3.62 billion, or NT$26.61 per share.

As of May 12, US$1 was equivalent to NT$30.17.