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Largan Precision profit misses consensus by 28.4% in Q1

Largan Precision Co. Ltd. said its first-quarter normalized net income was NT$23.37 per share, compared with the S&P Capital IQ consensus estimate of NT$32.64 per share.

EPS increased 44.1% year over year from NT$16.21.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.17 billion, an increase of 44.2% from NT$2.20 billion in the prior-year period.

The normalized profit margin declined to 30.0% from 32.1% in the year-earlier period.

Total revenue rose 54.1% on an annual basis to NT$10.57 billion from NT$6.86 billion, and total operating expenses climbed 47.8% on an annual basis to NT$5.39 billion from NT$3.65 billion.

Reported net income grew 46.9% from the prior-year period to NT$4.41 billion, or NT$32.47 per share, from NT$3.00 billion, or NT$22.10 per share.

As of May 13, US$1 was equivalent to NT$30.62.