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Macauto Industrial profit misses consensus by 53.0% in Q1

Macauto Industrial Co. Ltd. said its normalized net income for the first quarter came to 100 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$2.12 per share.

EPS declined 43.8% year over year from NT$1.77.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$74.7 million, a decline of 43.8% from NT$132.9 million in the year-earlier period.

The normalized profit margin declined to 9.2% from 16.4% in the year-earlier period.

Total revenue came to NT$815.0 million, compared with NT$811.9 million in the year-earlier period, and total operating expenses climbed 8.3% from the prior-year period to NT$666.4 million from NT$615.5 million.

Reported net income declined 43.9% year over year to NT$100.4 million, or NT$1.34 per share, from NT$179.2 million, or NT$2.39 per share.

As of May 12, US$1 was equivalent to NT$30.75.