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TTFB profit misses consensus by 26.4% in Q1

TTFB Co. Ltd. said its first-quarter normalized net income amounted to NT$2.54 per share, compared with the S&P Capital IQ consensus estimate of NT$3.45 per share.

EPS declined year over year from NT$2.66.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$59.1 million, a decrease from NT$61.9 million in the year-earlier period.

The normalized profit margin dropped to 6.8% from 8.6% in the year-earlier period.

Total revenue grew 20.8% year over year to NT$866.9 million from NT$717.5 million, and total operating expenses grew 24.7% on an annual basis to NT$774.9 million from NT$621.3 million.

Reported net income decreased 5.1% year over year to NT$78.2 million, or NT$3.36 per share, from NT$82.4 million, or NT$3.54 per share.

As of May 14, US$1 was equivalent to NT$30.54.