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Zhejiang Dahua Technology profit misses consensus by 25.0% in Q2

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Zhejiang Dahua Technology profit misses consensus by 25.0% in Q2

Zhejiang Dahua Technology Co. Ltd. said its normalized net income for the second quarter came to 13 fen per share, compared with the S&P Capital IQ consensus estimate of 17 fen per share.

EPS climbed 63.6% year over year from 8 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 331.9 million yuan, a gain of 32.6% from 250.3 million yuan in the prior-year period.

The normalized profit margin dropped to 10.8% from 11.0% in the year-earlier period.

Total revenue climbed 39.7% on an annual basis to 3.17 billion yuan from 2.27 billion yuan, and total operating expenses increased 37.7% on an annual basis to 2.74 billion yuan from 1.99 billion yuan.

Reported net income increased 37.2% year over year to 494.5 million yuan, or 19 fen per share, from 360.4 million yuan, or 11 fen per share.

As of Aug. 18, US$1 was equivalent to 6.63 yuan.