Cheng Shin Rubber Ind. Co. Ltd. said its first-quarter normalized net income was 81 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.17 per share.
EPS fell 11.8% year over year from 92 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$2.64 billion, a decrease of 11.8% from NT$3.00 billion in the year-earlier period.
The normalized profit margin fell to 9.1% from 9.5% in the year-earlier period.
Total revenue declined 8.2% year over year to NT$28.99 billion from NT$31.59 billion, and total operating expenses decreased 6.9% year over year to NT$24.37 billion from NT$26.19 billion.
Reported net income fell 11.5% from the prior-year period to NT$3.25 billion, or NT$1 per share, from NT$3.67 billion, or NT$1.13 per share.
As of May 13, US$1 was equivalent to NT$30.62.
