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Hikvision profit misses consensus by 28.7% in Q3

Hangzhou Hikvision Digital Technology Co. Ltd. said its third-quarter normalized net income was 13 fen per share, compared with the S&P Capital IQ consensus estimate of 18 fen per share.

EPS increased 30.2% year over year from 10 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.16 billion yuan, a gain of 31.5% from 883.5 million yuan in the year-earlier period.

The normalized profit margin declined to 16.9% from 19.0% in the year-earlier period.

Total revenue rose 47.9% on an annual basis to 6.88 billion yuan from 4.65 billion yuan, and total operating expenses rose 53.7% year over year to 5.32 billion yuan from 3.46 billion yuan.

Reported net income grew 31.4% from the prior-year period to 1.56 billion yuan, or 17 fen per share, from 1.19 billion yuan, or 13 fen per share.

As of Oct. 19, US$1 was equivalent to 6.36 yuan.