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Lien Hwa Industrial Q1 profit falls 58.2% YOY

Lien Hwa Industrial Corp. said its first-quarter normalized net income was 19 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS decreased 58.2% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$179.5 million, a decline of 58.2% from NT$429.2 million in the prior-year period.

The normalized profit margin dropped to 14.3% from 34.5% in the year-earlier period.

Total revenue came to NT$1.25 billion, compared with NT$1.25 billion in the prior-year period, and total operating expenses totaled NT$1.20 billion, compared with NT$1.19 billion in the prior-year period.

Reported net income declined 57.7% from the prior-year period to NT$282.2 million, or 29 cents per share, from NT$667.3 million, or 70 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.