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Macauto Industrial profit misses consensus by 20.2% in Q2

Macauto Industrial Co. Ltd. said its second-quarter normalized net income amounted to NT$1.99 per share, compared with the S&P Capital IQ consensus estimate of NT$2.49 per share.

EPS climbed 5.1% year over year from NT$1.89.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$149.3 million, an increase from NT$142.9 million in the year-earlier period.

The normalized profit margin declined to 13.8% from 14.9% in the year-earlier period.

Total revenue grew 13.2% year over year to NT$1.08 billion from NT$956.3 million, and total operating expenses rose 16.7% on an annual basis to NT$845.3 million from NT$724.3 million.

Reported net income rose on an annual basis to NT$177.1 million, or NT$2.36 per share, from NT$173.6 million, or NT$2.30 per share.

As of Aug. 11, US$1 was equivalent to NT$31.26.