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Somboon Advance Technology profit misses consensus by 40.3% in Q2

Somboon Advance Technology Public Company Ltd said its second-quarter normalized net income was 11 satang per share, compared with the S&P Capital IQ consensus estimate of 19 satang per share.

EPS fell 45.8% year over year from 20 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.0 million baht, a decrease of 45.8% from 86.7 million baht in the year-earlier period.

The normalized profit margin declined to 2.5% from 4.5% in the year-earlier period.

Total revenue declined year over year to 1.86 billion baht from 1.92 billion baht, and total operating expenses totaled 1.77 billion baht, compared with 1.76 billion baht in the year-earlier period.

Reported net income decreased 49.0% year over year to 65.2 million baht, or 15 satang per share, from 128.0 million baht, or 30 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.