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Hangzhou Robam Appliances Q2 profit climbs 38.9% YOY

Hangzhou Robam Appliances Co. Ltd. said its normalized net income for the second quarter amounted to 14 fen per share, compared with the S&P Capital IQ consensus estimate of 15 fen per share.

EPS increased 47.1% year over year from 9 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 137.4 million yuan, an increase of 38.9% from 98.9 million yuan in the prior-year period.

The normalized profit margin rose to 11.6% from 10.4% in the year-earlier period.

Total revenue grew 27.2% year over year to 1.21 billion yuan from 952.4 million yuan, and total operating expenses rose 23.0% year over year to 1.01 billion yuan from 821.2 million yuan.

Reported net income increased 42.1% from the prior-year period to 188.0 million yuan, or 19 fen per share, from 132.3 million yuan, or 13 fen per share.

As of July 22, US$1 was equivalent to 6.21 yuan.