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TCL Multimedia profit misses consensus by 36.3% in Q1

TCL Multimedia Technology Holdings Ltd. said its normalized net income for the first quarter was 3 Hong Kong cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS rose year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$33.8 million, a gain from HK$14.4 million in the prior-year period.

The normalized profit margin increased to 0.4% from 0.2% in the year-earlier period.

Total revenue grew 5.0% year over year to HK$8.29 billion from HK$7.89 billion, and total operating expenses grew from the prior-year period to HK$8.20 billion from HK$7.86 billion.

Reported net income grew year over year to HK$45.6 million, or 3 cents per share, from HK$15.2 million, or 1 cents per share.