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Lens Technology profit misses consensus by 33.8% in Q3

Lens Technology Co. Ltd. said its third-quarter normalized net income was 11 fen per share, compared with the S&P Capital IQ consensus estimate of 16 fen per share.

In the prior-year period, the per-share result was a profit of 11 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 263.0 million yuan, a gain of 11.1% from 236.8 million yuan in the prior-year period.

The normalized profit margin rose to 6.4% from 5.5% in the year-earlier period.

Total revenue fell year over year to 4.11 billion yuan from 4.29 billion yuan, and total operating expenses declined year over year to 3.67 billion yuan from 3.86 billion yuan.

Reported net income rose 44.4% on an annual basis to 398.4 million yuan, or 16 fen per share, from 275.9 million yuan, or 13 fen per share.

As of Oct. 23, US$1 was equivalent to 6.35 yuan.