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Sanan Optoelectronics profit misses consensus by 25.0% in Q2

Sanan Optoelectronics Co. Ltd. said its second-quarter normalized net income came to 9 fen per share, compared with the S&P Capital IQ consensus estimate of 13 fen per share.

EPS increased 13.6% year over year from 8 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 359.5 million yuan, a gain of 10.0% from 326.8 million yuan in the year-earlier period.

The normalized profit margin climbed to 30.0% from 24.1% in the year-earlier period.

Total revenue totaled 1.36 billion yuan, compared with 1.35 billion yuan in the prior-year period, and total operating expenses decreased 13.0% from the prior-year period to 777.1 million yuan from 892.7 million yuan.

Reported net income rose 25.5% on an annual basis to 549.7 million yuan, or 14 fen per share, from 437.9 million yuan, or 11 fen per share.

As of Aug. 18, US$1 was equivalent to 6.39 yuan.