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Lingyun Industrial profit beats consensus by 18.9% in Q3

Lingyun Industrial Corp. Ltd said its third-quarter normalized net income came to 4 fen per share, compared with the S&P Capital IQ consensus estimate of 3 fen per share.

EPS declined 25.7% year over year from 5 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.8 million yuan, a decline of 10.2% from 16.5 million yuan in the prior-year period.

The normalized profit margin increased to 1.1% from 1.0% in the year-earlier period.

Total revenue rose 29.2% on an annual basis to 2.05 billion yuan from 1.59 billion yuan, and total operating expenses rose 30.2% year over year to 1.94 billion yuan from 1.49 billion yuan.

Reported net income rose 81.4% from the prior-year period to 37.4 million yuan, or 9 fen per share, from 20.6 million yuan, or 6 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.