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Suofeiya Home Collection profit misses consensus by 26.7% in Q4

Suofeiya Home Collection Co. Ltd. said its normalized net income for the fourth quarter amounted to 16 fen per share, compared with the S&P Capital IQ consensus estimate of 23 fen per share.

EPS increased 66.3% year over year from 10 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 149.2 million yuan, a gain of 68.5% from 88.5 million yuan in the prior-year period.

The normalized profit margin climbed to 13.0% from 10.7% in the year-earlier period.

Total revenue climbed 35.7% on an annual basis to 1.12 billion yuan from 828.6 million yuan, and total operating expenses increased 31.0% on an annual basis to 897.3 million yuan from 685.2 million yuan.

Reported net income grew 42.3% from the prior-year period to 183.3 million yuan, or 20 fen per share, from 128.8 million yuan, or 14 fen per share.

For the year, the company's normalized net income totaled 43 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 51 fen.

EPS rose 57.3% from 28 fen in the prior year.

Normalized net income was 383.4 million yuan, a rise of 57.2% from 243.9 million yuan in the prior year.

Full-year total revenue rose 35.4% from the prior-year period to 3.20 billion yuan from 2.36 billion yuan, and total operating expenses increased 31.7% on an annual basis to 2.61 billion yuan from 1.98 billion yuan.

The company said reported net income grew 40.4% year over year to 459.0 million yuan, or 52 fen per share, in the full year, from 326.9 million yuan, or 37 fen per share.

As of Jan. 27, US$1 was equivalent to 6.58 yuan.