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Lens Technology profit misses consensus by 24.1% in Q3

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Lens Technology profit misses consensus by 24.1% in Q3

Lens Technology Co. Ltd. said its normalized net income for the third quarter was 20 fen per share, compared with the S&P Capital IQ consensus estimate of 26 fen per share.

EPS rose 9.9% year over year from 18 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 516.5 million yuan, an increase of 9.9% from 469.8 million yuan in the year-earlier period.

The normalized profit margin dropped to 8.0% from 9.4% in the year-earlier period.

Total revenue climbed 29.3% on an annual basis to 6.46 billion yuan from 4.99 billion yuan, and total operating expenses increased 34.1% year over year to 5.60 billion yuan from 4.18 billion yuan.

Reported net income increased 6.3% on an annual basis to 582.0 million yuan, or 22 fen per share, from 547.5 million yuan, or 21 fen per share.

As of Oct. 26, US$1 was equivalent to 6.63 yuan.