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TCI Co. profit misses consensus by 43.3% in Q1

TCI Co. Ltd. said its normalized net income for the first quarter amounted to 34 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS rose year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$26.8 million, a gain from NT$5.6 million in the year-earlier period.

The normalized profit margin climbed to 6.4% from 2.0% in the year-earlier period.

Total revenue grew 52.1% on an annual basis to NT$419.3 million from NT$275.7 million, and total operating expenses climbed 36.1% from the prior-year period to NT$373.9 million from NT$274.8 million.

Reported net income grew from the prior-year period to NT$34.1 million, or 43 cents per share, from NT$3.6 million, or 5 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.