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Hiroca Holdings profit misses consensus by 18.0% in Q2

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Hiroca Holdings profit misses consensus by 18.0% in Q2

Hiroca Holdings Ltd. said its normalized net income for the second quarter was NT$1.79 per share, compared with the S&P Capital IQ consensus estimate of NT$2.18 per share.

EPS declined 7.0% year over year from NT$1.92.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$150.3 million, compared with NT$150.5 million in the prior-year period.

The normalized profit margin rose to 7.4% from 6.9% in the year-earlier period.

Total revenue decreased 6.9% on an annual basis to NT$2.03 billion from NT$2.18 billion, and total operating expenses fell 6.9% from the prior-year period to NT$1.81 billion from NT$1.94 billion.

Reported net income grew 14.0% year over year to NT$190.8 million, or NT$2.27 per share, from NT$167.4 million, or NT$2.14 per share.

As of Aug. 10, US$1 was equivalent to NT$31.65.