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NavInfo profit misses consensus by 74.1% in Q1

NavInfo Co. Ltd. said its normalized net income for the first quarter amounted to 2 fen per share, compared with the S&P Capital IQ consensus estimate of 9 fen per share.

EPS rose 7.5% year over year from 2 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.5 million yuan, a gain of 11.9% from 22.8 million yuan in the year-earlier period.

The normalized profit margin dropped to 8.8% from 11.3% in the year-earlier period.

Total revenue increased 43.9% on an annual basis to 289.6 million yuan from 201.3 million yuan, and total operating expenses increased 40.9% from the prior-year period to 264.3 million yuan from 187.6 million yuan.

Reported net income came to 30.5 million yuan, or 3 fen per share, compared to 29.3 million yuan, or 3 fen per share, in the year-earlier period.

As of April 16, US$1 was equivalent to 6.19 yuan.