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Shenzhen Fuanna Bedding & Furnishing profit misses consensus by 17.3% in Q1

Shenzhen Fuanna Bedding & Furnishing Co. Ltd. said its normalized net income for the first quarter amounted to 10 fen per share, compared with the S&P Capital IQ consensus estimate of 12 fen per share.

EPS fell year over year from 10 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 81.9 million yuan, a decrease from 83.3 million yuan in the prior-year period.

The normalized profit margin fell to 17.8% from 18.4% in the year-earlier period.

Total revenue climbed year over year to 462.5 million yuan from 452.3 million yuan, and total operating expenses grew 6.2% on an annual basis to 341.8 million yuan from 321.8 million yuan.

Reported net income came to 101.0 million yuan, or 12 fen per share, compared to 100.6 million yuan, or 12 fen per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 6.22 yuan.