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Zhejiang Dahua Technology profit misses consensus by 20.6% in Q2

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Zhejiang Dahua Technology profit misses consensus by 20.6% in Q2

Zhejiang Dahua Technology Co. Ltd. said its second-quarter normalized net income was 17 fen per share, compared with the S&P Capital IQ consensus estimate of 21 fen per share.

EPS increased 26.6% year over year from 13 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 486.1 million yuan, an increase of 41.7% from 343.1 million yuan in the prior-year period.

The normalized profit margin dropped to 10.1% from 10.8% in the year-earlier period.

Total revenue grew 52.1% year over year to 4.82 billion yuan from 3.17 billion yuan, and total operating expenses increased 38.3% on an annual basis to 3.79 billion yuan from 2.74 billion yuan.

Reported net income rose 40.8% from the prior-year period to 696.2 million yuan, or 24 fen per share, from 494.5 million yuan, or 19 fen per share.

As of Aug. 4, US$1 was equivalent to 6.72 yuan.