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Hu Lane Associate profit misses consensus by 20.7% in Q3

Hu Lane Associate Inc. said its third-quarter normalized net income came to NT$1.61 per share, compared with the S&P Capital IQ consensus estimate of NT$2.02 per share.

EPS climbed 12.0% year over year from NT$1.43.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$156.5 million, a gain of 11.9% from NT$139.8 million in the year-earlier period.

The normalized profit margin fell to 17.1% from 18.8% in the year-earlier period.

Total revenue increased 22.9% on an annual basis to NT$913.5 million from NT$743.5 million, and total operating expenses increased from the prior-year period to NT$605.9 million from NT$590.0 million.

Reported net income grew from the prior-year period to NT$203.6 million, or NT$2.09 per share, from NT$196.9 million, or NT$2.02 per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.