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Zeng Hsing Industrial profit misses consensus by 21.2% in Q3

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Zeng Hsing Industrial profit misses consensus by 21.2% in Q3

Zeng Hsing Industrial Co. Ltd. said its normalized net income for the third quarter amounted to NT$3.38 per share, compared with the S&P Capital IQ consensus estimate of NT$4.29 per share.

EPS fell 33.1% year over year from NT$5.05.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$204.8 million, a decline of 33.2% from NT$306.7 million in the year-earlier period.

The normalized profit margin dropped to 11.1% from 17.6% in the year-earlier period.

Total revenue climbed 6.3% on an annual basis to NT$1.85 billion from NT$1.74 billion, and total operating expenses increased on an annual basis to NT$1.46 billion from NT$1.42 billion.

Reported net income decreased 30.8% on an annual basis to NT$257.4 million, or NT$4.25 per share, from NT$372.0 million, or NT$6.13 per share.

As of Nov. 11, US$1 was equivalent to NT$31.93.