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Sampo profit misses consensus by 16.0% in Q1

Sampo Corp. said its first-quarter normalized net income amounted to 18 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS decreased year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$93.3 million, a decrease of 5.2% from NT$98.4 million in the prior-year period.

The normalized profit margin increased to 3.9% from 3.9% in the year-earlier period.

Total revenue declined 6.1% year over year to NT$2.39 billion from NT$2.54 billion, and total operating expenses declined 7.9% from the prior-year period to NT$2.32 billion from NT$2.52 billion.

Reported net income fell 7.6% from the prior-year period to NT$149.1 million, or 29 cents per share, from NT$161.3 million, or 31 cents per share.

As of May 11, US$1 was equivalent to NT$30.76.