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AAC Technologies Holdings profit misses consensus by 18.7% in Q3

AAC Technologies Holdings Inc. said its normalized net income for the third quarter amounted to 47 fen per share, compared with the S&P Capital IQ consensus estimate of 58 fen per share.

EPS climbed 51.6% year over year from 31 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 582.2 million yuan, a gain of 51.6% from 384.0 million yuan in the prior-year period.

The normalized profit margin fell to 18.3% from 18.6% in the year-earlier period.

Total revenue grew 54.2% on an annual basis to 3.18 billion yuan from 2.06 billion yuan, and total operating expenses rose 57.6% year over year to 2.32 billion yuan from 1.47 billion yuan.

Reported net income increased 54.7% from the prior-year period to 850.6 million yuan, or 69 fen per share, from 549.7 million yuan, or 45 fen per share.

As of Nov. 12, US$1 was equivalent to 6.37 yuan.