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Paiho Shih Holdings profit misses consensus by 23.4% in Q2

Paiho Shih Holdings Corp. said its normalized net income for the second quarter came to 37 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS declined 16.9% year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$97.9 million, a decline of 16.9% from NT$117.8 million in the prior-year period.

The normalized profit margin dropped to 11.4% from 13.0% in the year-earlier period.

Total revenue fell 5.4% on an annual basis to NT$860.5 million from NT$909.2 million, and total operating expenses fell on an annual basis to NT$702.3 million from NT$712.5 million.

Reported net income decreased 8.7% on an annual basis to NT$127.8 million, or 48 cents per share, from NT$140.0 million, or 53 cents per share.

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