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Fulgent Sun International profit misses consensus by 20.3% in Q1

Fulgent Sun International (Holding) Co. Ltd. said its first-quarter normalized net income amounted to 87 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.09 per share.

EPS rose 77.7% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$115.9 million, an increase of 78.5% from NT$64.9 million in the year-earlier period.

The normalized profit margin increased to 4.6% from 3.2% in the year-earlier period.

Total revenue climbed 24.6% year over year to NT$2.52 billion from NT$2.02 billion, and total operating expenses increased 22.3% from the prior-year period to NT$2.34 billion from NT$1.91 billion.

Reported net income rose 72.5% on an annual basis to NT$142.2 million, or NT$1.07 per share, from NT$82.5 million, or 62 cents per share.

As of May 13, US$1 was equivalent to NT$30.62.