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Tehmag Foods profit misses consensus by 17.7% in Q4

Tehmag Foods Corp. said its fourth-quarter normalized net income came to NT$2.52 per share, compared with the S&P Capital IQ consensus estimate of NT$3.06 per share.

EPS fell year over year from NT$2.58.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$85.0 million, a gain of 6.4% from NT$79.9 million in the prior-year period.

The normalized profit margin declined to 8.1% from 8.1% in the year-earlier period.

Total revenue climbed 7.3% year over year to NT$1.05 billion from NT$982.2 million, and total operating expenses grew 9.3% on an annual basis to NT$898.0 million from NT$821.8 million.

Reported net income declined on an annual basis to NT$110.0 million, or NT$3.26 per share, from NT$112.1 million, or NT$3.62 per share.

For the year, the company's normalized net income totaled NT$9.11 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$11.60.

EPS rose 16.2% from NT$7.84 in the prior year.

Normalized net income was NT$301.2 million, an increase of 23.9% from NT$243.0 million in the prior year.

Full-year total revenue increased 11.6% on an annual basis to NT$3.89 billion from NT$3.48 billion, and total operating expenses grew 10.6% year over year to NT$3.34 billion from NT$3.02 billion.

The company said reported net income grew 24.8% on an annual basis to NT$399.2 million, or NT$12.07 per share, in the full year, from NT$319.9 million, or NT$10.32 per share.

As of March 28, US$1 was equivalent to NT$32.62.