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Zhejiang Dahua Technology profit misses consensus by 32.4% in Q3

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

EPS climbed 36.0% year over year from 8 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 318.5 million yuan, a gain of 30.9% from 243.4 million yuan in the year-earlier period.

The normalized profit margin declined to 7.5% from 8.1% in the year-earlier period.

Total revenue rose 41.1% on an annual basis to 4.26 billion yuan from 3.02 billion yuan, and total operating expenses grew 33.4% on an annual basis to 3.70 billion yuan from 2.77 billion yuan.

Reported net income increased 28.3% year over year to 461.5 million yuan, or 16 fen per share, from 359.8 million yuan, or 12 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.