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Weifu High-Technology profit misses consensus by 32.3% in Q3

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Weifu High-Technology profit misses consensus by 32.3% in Q3

Weifu High-Technology Group Co. Ltd. said its third-quarter normalized net income was 24 fen per share, compared with the S&P Capital IQ consensus estimate of 36 fen per share.

EPS rose 49.9% year over year from 16 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 247.8 million yuan, a gain of 47.6% from 167.9 million yuan in the year-earlier period.

The normalized profit margin rose to 16.3% from 15.1% in the year-earlier period.

Total revenue climbed 37.2% year over year to 1.52 billion yuan from 1.11 billion yuan, and total operating expenses rose 34.7% from the prior-year period to 1.43 billion yuan from 1.06 billion yuan.

Reported net income grew 47.7% from the prior-year period to 366.1 million yuan, or 36 fen per share, from 247.9 million yuan, or 24 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.