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Kian Shen profit misses consensus by 21.4% in Q2

Kian Shen Corp. said its second-quarter normalized net income was 94 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.20 per share.

EPS rose 17.8% year over year from 80 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$69.2 million, an increase of 17.8% from NT$58.7 million in the prior-year period.

The normalized profit margin increased to 21.4% from 19.7% in the year-earlier period.

Total revenue grew 8.5% on an annual basis to NT$322.7 million from NT$297.4 million, and total operating expenses grew 6.2% on an annual basis to NT$307.8 million from NT$289.8 million.

Reported net income increased 12.7% on an annual basis to NT$85.9 million, or NT$1.17 per share, from NT$76.2 million, or NT$1.04 per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.