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Hota Industrial profit misses consensus by 28.6% in Q1

Hota Industrial Mfg. Co. Ltd. said its first-quarter normalized net income came to 62 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS climbed 28.4% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$145.5 million, a gain of 28.2% from NT$113.4 million in the year-earlier period.

The normalized profit margin increased to 12.1% from 11.6% in the year-earlier period.

Total revenue rose 22.9% on an annual basis to NT$1.20 billion from NT$980.1 million, and total operating expenses increased 13.4% from the prior-year period to NT$934.0 million from NT$823.9 million.

Reported net income rose 32.7% on an annual basis to NT$205.0 million, or 87 cents per share, from NT$154.5 million, or 65 cents per share.

As of May 12, US$1 was equivalent to NT$30.75.