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Yulon Motor profit misses consensus by 16.9% in Q1

Yulon Motor Co. Ltd. said its first-quarter normalized net income was 38 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS fell year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$558.9 million, a decrease from NT$583.1 million in the prior-year period.

The normalized profit margin fell to 1.8% from 2.2% in the year-earlier period.

Total revenue grew 21.2% year over year to NT$31.66 billion from NT$26.12 billion, and total operating expenses rose 21.0% from the prior-year period to NT$30.90 billion from NT$25.53 billion.

Reported net income increased 9.1% from the prior-year period to NT$877.8 million, or 60 cents per share, from NT$804.6 million, or 55 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.