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Hiroca Holdings profit misses consensus by 25.9% in Q2

Hiroca Holdings Ltd. said its normalized net income for the second quarter amounted to NT$1.52 per share, compared with the S&P Capital IQ consensus estimate of NT$2.05 per share.

EPS declined 15.0% year over year from NT$1.79.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$127.5 million, a decrease of 15.2% from NT$150.3 million in the year-earlier period.

The normalized profit margin dropped to 7.1% from 7.4% in the year-earlier period.

Total revenue declined 11.3% year over year to NT$1.80 billion from NT$2.03 billion, and total operating expenses declined 11.0% from the prior-year period to NT$1.61 billion from NT$1.81 billion.

Reported net income fell 24.8% year over year to NT$143.5 million, or NT$1.71 per share, from NT$190.8 million, or NT$2.27 per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.