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Launch Technologies profit misses consensus by 53.4% in Q1

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Launch Technologies profit misses consensus by 53.4% in Q1

Launch Technologies Co. Ltd. said its first-quarter normalized net income was 31 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS fell 33.7% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$16.0 million, a decline of 25.3% from NT$21.4 million in the year-earlier period.

The normalized profit margin dropped to 5.0% from 6.0% in the year-earlier period.

Total revenue declined 10.6% year over year to NT$318.0 million from NT$355.6 million, and total operating expenses fell 10.6% from the prior-year period to NT$290.6 million from NT$325.1 million.

Reported net income declined 15.9% year over year to NT$22.5 million, or 44 cents per share, from NT$26.8 million, or 59 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.