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Delta Electronics profit misses consensus by 33.0% in Q2

Delta Electronics Inc. said its normalized net income for the second quarter came to NT$1.28 per share, compared with the S&P Capital IQ consensus estimate of NT$1.91 per share.

EPS fell 16.6% year over year from NT$1.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.13 billion, a decline of 16.8% from NT$3.77 billion in the prior-year period.

The normalized profit margin dropped to 6.5% from 7.9% in the year-earlier period.

Total revenue climbed on an annual basis to NT$48.73 billion from NT$47.62 billion, and total operating expenses climbed 5.7% on an annual basis to NT$43.99 billion from NT$41.63 billion.

Reported net income fell 28.1% on an annual basis to NT$3.80 billion, or NT$1.55 per share, from NT$5.28 billion, or NT$2.15 per share.

As of July 29, US$1 was equivalent to NT$31.44.