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Zeng Hsing Industrial profit misses consensus by 30.7% in Q1

Zeng Hsing Industrial Co. Ltd. said its first-quarter normalized net income came to NT$1.55 per share, compared with the S&P Capital IQ consensus estimate of NT$2.24 per share.

EPS decreased 17.9% year over year from NT$1.89.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$94.0 million, a decline of 17.9% from NT$114.5 million in the year-earlier period.

The normalized profit margin fell to 7.3% from 9.3% in the year-earlier period.

Total revenue rose on an annual basis to NT$1.28 billion from NT$1.24 billion, and total operating expenses grew year over year to NT$1.13 billion from NT$1.09 billion.

Reported net income declined 22.0% year over year to NT$115.8 million, or NT$1.91 per share, from NT$148.5 million, or NT$2.45 per share.

As of May 13, US$1 was equivalent to NT$30.62.