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Sampo profit misses consensus by 30.4% in Q4

Sampo Corp. said its normalized net income for the fourth quarter was 10 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS rose 13.3% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$48.1 million, a gain of 8.2% from NT$44.4 million in the prior-year period.

The normalized profit margin climbed to 2.3% from 2.0% in the year-earlier period.

Total revenue decreased 6.1% on an annual basis to NT$2.11 billion from NT$2.24 billion, and total operating expenses fell 7.6% on an annual basis to NT$2.10 billion from NT$2.27 billion.

Reported net income fell 32.1% on an annual basis to NT$31.4 million, or 6 cents per share, from NT$46.2 million, or 9 cents per share.

For the year, the company's normalized net income totaled 71 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$1.12.

EPS declined 11.8% from 80 cents in the prior year.

Normalized net income was NT$356.9 million, a decline of 13.6% from NT$413.1 million in the prior year.

Full-year total revenue fell 5.5% from the prior-year period to NT$9.77 billion from NT$10.33 billion, and total operating expenses declined 5.8% year over year to NT$9.56 billion from NT$10.15 billion.

The company said reported net income declined 21.0% year over year to NT$506.1 million, or NT$1 per share, in the full year, from NT$640.8 million, or NT$1.24 per share.

As of March 24, US$1 was equivalent to NT$32.51.