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Zeng Hsing Industrial profit beats consensus by 16.2% in Q2

Zeng Hsing Industrial Co. Ltd. said its normalized net income for the second quarter was NT$3.72 per share, compared with the S&P Capital IQ consensus estimate of NT$3.21 per share.

EPS increased 41.3% year over year from NT$2.63.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$225.7 million, an increase of 41.4% from NT$159.7 million in the prior-year period.

The normalized profit margin rose to 14.1% from 10.0% in the year-earlier period.

Total revenue totaled NT$1.60 billion, compared with NT$1.60 billion in the prior-year period, and total operating expenses fell on an annual basis to NT$1.29 billion from NT$1.33 billion.

Reported net income rose 32.7% on an annual basis to NT$256.4 million, or NT$4.23 per share, from NT$193.3 million, or NT$3.19 per share.

As of Aug. 11, US$1 was equivalent to NT$31.26.