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Sunny Optical Technology H1 EPS misses estimates

Sunny Optical Technology (Group) Co. Ltd.'s profit attributable to owners rose to 1.19 billion Chinese yuan in the six months ended June 30 from 1.16 billion yuan in the year-ago period.

EPS grew to nearly 1.08 yuan in the half from 1.07 yuan in the year-ago period. The S&P Global Market Intelligence consensus normalized EPS estimate for the half was 1.36 yuan.

The electronic components maker booked 11.98 billion yuan in revenues for the half, up approximately 19.4% from 10.03 billion yuan in the year-ago period. Revenue from optical components was approximately 2.66 billion yuan, while optoelectronic products brought in 9.19 billion yuan in revenues for the half.

Sunny Optical's research and development costs grew to 544.5 million yuan in the half from 535.0 million yuan in the same period a year ago.

As of Aug. 31, 2018, US$1 was equivalent to 6.83 Chinese yuan.