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Hangzhou Robam Appliances profit misses consensus by 25.9% in Q2

Hangzhou Robam Appliances Co. Ltd. said its normalized net income for the second quarter was 20 fen per share, compared with the S&P Capital IQ consensus estimate of 27 fen per share.

EPS rose 37.3% year over year from 14 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 190.6 million yuan, an increase of 35.6% from 140.6 million yuan in the year-earlier period.

The normalized profit margin increased to 12.9% from 11.6% in the year-earlier period.

Total revenue increased 24.5% year over year to 1.51 billion yuan from 1.21 billion yuan, and total operating expenses grew 22.0% year over year to 1.23 billion yuan from 1.01 billion yuan.

Reported net income rose 38.2% year over year to 259.8 million yuan, or 27 fen per share, from 188.0 million yuan, or 19 fen per share.

As of July 20, US$1 was equivalent to 6.68 yuan.