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Eurocharm Holdings Q2 profit falls 5.3% YOY

Eurocharm Holdings Co. Ltd. said its second-quarter normalized net income was 100 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.17 per share.

EPS declined 17.1% year over year from NT$1.20.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$64.9 million, a decline of 5.3% from NT$68.6 million in the prior-year period.

The normalized profit margin dropped to 7.7% from 7.7% in the year-earlier period.

Total revenue declined year over year to NT$845.7 million from NT$884.9 million, and total operating expenses decreased 5.2% from the prior-year period to NT$757.2 million from NT$798.3 million.

Reported net income fell 7.2% on an annual basis to NT$78.8 million, or NT$1.21 per share, from NT$84.9 million, or NT$1.49 per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.