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Delta Electronics profit misses consensus by 39.6% in Q1

Delta Electronics Inc. said its normalized net income for the first quarter amounted to NT$1.16 per share, compared with the S&P Capital IQ consensus estimate of NT$1.92 per share.

EPS fell 15.2% year over year from NT$1.37.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$2.85 billion, a decline of 15.2% from NT$3.36 billion in the year-earlier period.

The normalized profit margin dropped to 6.6% from 7.8% in the year-earlier period.

Total revenue totaled NT$43.20 billion, compared with NT$43.04 billion in the prior-year period, and total operating expenses rose on an annual basis to NT$38.93 billion from NT$37.93 billion.

Reported net income fell 15.6% on an annual basis to NT$3.86 billion, or NT$1.57 per share, from NT$4.57 billion, or NT$1.86 per share.

As of April 29, US$1 was equivalent to NT$30.41.