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Hota Industrial profit misses consensus by 26.1% in Q2

Hota Industrial Mfg. Co. Ltd. said its second-quarter normalized net income came to NT$1.02 per share, compared with the S&P Capital IQ consensus estimate of NT$1.38 per share.

EPS rose 24.7% year over year from 82 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$239.2 million, an increase of 24.6% from NT$192.1 million in the prior-year period.

The normalized profit margin rose to 16.5% from 14.5% in the year-earlier period.

Total revenue grew 9.3% on an annual basis to NT$1.45 billion from NT$1.33 billion, and total operating expenses grew 6.6% year over year to NT$1.06 billion from NT$997.3 million.

Reported net income increased 28.6% on an annual basis to NT$305.8 million, or NT$1.30 per share, from NT$237.8 million, or NT$1.01 per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.