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Zeng Hsing Industrial profit misses consensus by 20.0% in Q2

Zeng Hsing Industrial Co. Ltd. said its normalized net income for the second quarter was NT$2.63 per share, compared with the S&P Capital IQ consensus estimate of NT$3.29 per share.

EPS climbed 13.5% year over year from NT$2.32.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$159.7 million, an increase of 13.4% from NT$140.8 million in the year-earlier period.

The normalized profit margin climbed to 10.0% from 9.4% in the year-earlier period.

Total revenue grew 7.1% on an annual basis to NT$1.60 billion from NT$1.49 billion, and total operating expenses climbed 6.0% from the prior-year period to NT$1.33 billion from NT$1.25 billion.

Reported net income grew 15.6% year over year to NT$193.3 million, or NT$3.19 per share, from NT$167.3 million, or NT$2.76 per share.

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