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Feng Tay Enterprises profit misses consensus by 19.7% in Q1

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Feng Tay Enterprises profit misses consensus by 19.7% in Q1

Feng Tay Enterprises Co. Ltd. said its normalized net income for the first quarter was NT$1.05 per share, compared with the S&P Capital IQ consensus estimate of NT$1.31 per share.

EPS rose 31.0% year over year from 81 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$704.5 million, an increase of 31.0% from NT$537.8 million in the prior-year period.

The normalized profit margin climbed to 5.7% from 5.3% in the year-earlier period.

Total revenue grew 20.4% year over year to NT$12.32 billion from NT$10.23 billion, and total operating expenses rose 19.2% from the prior-year period to NT$11.24 billion from NT$9.43 billion.

Reported net income grew 27.8% on an annual basis to NT$837.9 million, or NT$1.25 per share, from NT$655.8 million, or 98 cents per share.

As of May 11, US$1 was equivalent to NT$30.76.