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Taiyen Biotech profit misses consensus by 24.4% in Q2


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Taiyen Biotech profit misses consensus by 24.4% in Q2

Taiyen Biotech Co. Ltd. said its normalized net income for the second quarter was 33 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS rose 31.1% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$65.1 million, a gain of 31.1% from NT$49.6 million in the year-earlier period.

The normalized profit margin increased to 8.9% from 6.8% in the year-earlier period.

Total revenue totaled NT$729.4 million, compared with NT$728.7 million in the prior-year period, and total operating expenses declined year over year to NT$619.5 million from NT$637.0 million.

Reported net income rose 70.7% from the prior-year period to NT$116.1 million, or 58 cents per share, from NT$68.0 million, or 34 cents per share.

As of Aug. 8, US$1 was equivalent to NT$31.48.