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Scan-D profit misses consensus by 38.4% in Q1

Scan-D Corp. said its normalized net income for the first quarter was 97 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.57 per share.

EPS declined 10.7% year over year from NT$1.08.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$42.5 million, a decrease of 10.7% from NT$47.6 million in the prior-year period.

The normalized profit margin dropped to 10.5% from 11.9% in the year-earlier period.

Total revenue increased year over year to NT$403.4 million from NT$399.0 million, and total operating expenses increased on an annual basis to NT$336.7 million from NT$322.2 million.

Reported net income fell 11.1% on an annual basis to NT$56.3 million, or NT$1.28 per share, from NT$63.3 million, or NT$1.44 per share.

As of May 8, US$1 was equivalent to NT$30.70.