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Pou Chen profit misses consensus by 72.5% in Q4

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Pou Chen profit misses consensus by 72.5% in Q4

Pou Chen Corp. said its normalized net income for the fourth quarter amounted to 26 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS fell 23.6% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$794.9 million, a decline of 23.4% from NT$1.04 billion in the prior-year period.

The normalized profit margin fell to 1.1% from 1.6% in the year-earlier period.

Total revenue grew 9.8% on an annual basis to NT$70.63 billion from NT$64.32 billion, and total operating expenses increased 8.5% from the prior-year period to NT$67.00 billion from NT$61.76 billion.

Reported net income declined 52.3% on an annual basis to NT$1.19 billion, or 39 cents per share, from NT$2.49 billion, or 82 cents per share.

For the year, the company's normalized net income totaled NT$1.98 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$3.78.

EPS rose 29.1% from NT$1.54 in the prior year.

Normalized net income was NT$6.03 billion, a gain of 29.7% from NT$4.65 billion in the prior year.

Full-year total revenue increased 10.3% on an annual basis to NT$269.08 billion from NT$243.98 billion, and total operating expenses grew 8.8% year over year to NT$256.73 billion from NT$236.06 billion.

The company said reported net income grew 10.6% year over year to NT$9.54 billion, or NT$3.14 per share, in the full year, from NT$8.63 billion, or NT$2.85 per share.

As of March 25, US$1 was equivalent to NT$32.56.