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Eclat Textile profit misses consensus by 26.7% in Q1

Eclat Textile Corp. Ltd. said its first-quarter normalized net income amounted to NT$2.02 per share, compared with the S&P Capital IQ consensus estimate of NT$2.75 per share.

EPS climbed 7.2% year over year from NT$1.88.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$537.7 million, an increase of 7.2% from NT$501.5 million in the year-earlier period.

The normalized profit margin fell to 10.9% from 11.2% in the year-earlier period.

Total revenue rose 10.0% on an annual basis to NT$4.93 billion from NT$4.48 billion, and total operating expenses grew 8.4% year over year to NT$4.06 billion from NT$3.74 billion.

Reported net income increased 6.0% from the prior-year period to NT$698.1 million, or NT$2.62 per share, from NT$658.3 million, or NT$2.47 per share.

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