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Ruentex Industries profit misses consensus by 27.6% in Q1

Ruentex Industries Ltd said its first-quarter normalized net income was NT$1.36 per share, compared with the S&P Capital IQ consensus estimate of NT$1.87 per share.

EPS climbed 17.2% year over year from NT$1.16.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.21 billion, an increase of 10.4% from NT$1.09 billion in the year-earlier period.

The normalized profit margin rose to 45.1% from 40.4% in the year-earlier period.

Total revenue declined year over year to NT$2.68 billion from NT$2.70 billion, and total operating expenses decreased 12.1% year over year to NT$1.60 billion from NT$1.82 billion.

Reported net income increased 53.5% on an annual basis to NT$2.23 billion, or NT$2.51 per share, from NT$1.45 billion, or NT$1.54 per share.

As of May 16, US$1 was equivalent to NT$32.63.