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KMC (Kuei Meng) International profit misses consensus by 24.3% in Q3

KMC (Kuei Meng) International Inc. said its third-quarter normalized net income amounted to NT$1.48 per share, compared with the S&P Capital IQ consensus estimate of NT$1.95 per share.

EPS fell 5.2% year over year from NT$1.56.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$177.3 million, a gain from NT$174.2 million in the year-earlier period.

The normalized profit margin declined to 17.2% from 19.7% in the year-earlier period.

Total revenue rose 16.0% year over year to NT$1.03 billion from NT$885.8 million, and total operating expenses rose year over year to NT$729.5 million from NT$705.1 million.

Reported net income grew on an annual basis to NT$234.1 million, or NT$1.95 per share, from NT$223.7 million, or NT$2.00 per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.