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Zeng Hsing Industrial profit misses consensus by 35.1% in Q1

Zeng Hsing Industrial Co. Ltd. said its first-quarter normalized net income was NT$1.25 per share, compared with the S&P Capital IQ consensus estimate of NT$1.93 per share.

EPS decreased 19.3% year over year from NT$1.55.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$75.8 million, a decrease of 19.3% from NT$94.0 million in the year-earlier period.

The normalized profit margin fell to 6.2% from 7.3% in the year-earlier period.

Total revenue decreased on an annual basis to NT$1.23 billion from NT$1.28 billion, and total operating expenses decreased 6.5% on an annual basis to NT$1.05 billion from NT$1.13 billion.

Reported net income fell 23.6% from the prior-year period to NT$88.4 million, or NT$1.46 per share, from NT$115.8 million, or NT$1.91 per share.

As of May 11, US$1 was equivalent to NT$32.52.