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Yi Jinn Industrial profit misses consensus by 88.4% in Q2

Yi Jinn Industrial Co. Ltd. said its normalized net income for the second quarter came to 1 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

The per-share result swung to a profit from the prior-year loss of 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.4 million, compared with a loss of NT$79.0 million in the prior-year period.

The normalized profit margin increased to 0.3% from negative 7.8% in the year-earlier period.

Total revenue climbed 12.3% on an annual basis to NT$1.13 billion from NT$1.01 billion, and total operating expenses climbed 13.2% on an annual basis to NT$1.12 billion from NT$993.1 million.

Reported net income fell 87.1% from the prior-year period to NT$39.5 million, or 17 cents per share, from NT$305.4 million, or NT$1.29 per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.