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Basso Industry profit misses consensus by 33.1% in Q1

Basso Industry Corp. said its normalized net income for the first quarter was 24 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS fell 81.9% year over year from NT$1.31.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$36.5 million, a decrease of 81.9% from NT$201.1 million in the year-earlier period.

The normalized profit margin declined to 4.3% from 27.8% in the year-earlier period.

Total revenue rose 16.4% on an annual basis to NT$841.8 million from NT$722.9 million, and total operating expenses grew 13.5% on an annual basis to NT$679.0 million from NT$598.1 million.

Reported net income fell 81.6% on an annual basis to NT$49.1 million, or 32 cents per share, from NT$266.9 million, or NT$1.74 per share.

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