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Yulon Nissan Motor profit misses consensus by 59.6% in Q4

Yulon Nissan Motor Co. Ltd. said its fourth-quarter normalized net income was NT$2.27 per share, compared with the S&P Capital IQ consensus estimate of NT$5.61 per share.

EPS fell 65.5% year over year from NT$6.57.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$679.7 million, a decrease of 65.5% from NT$1.97 billion in the year-earlier period.

The normalized profit margin dropped to 10.3% from 29.1% in the year-earlier period.

Total revenue decreased year over year to NT$6.62 billion from NT$6.79 billion, and total operating expenses declined year over year to NT$6.37 billion from NT$6.60 billion.

Reported net income decreased 65.5% from the prior-year period to NT$899.6 million, or NT$3.00 per share, from NT$2.61 billion, or NT$8.68 per share.

For the year, the company's normalized net income totaled NT$10.39 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$16.50.

EPS declined 37.7% from NT$16.67 in the prior year.

Normalized net income was NT$3.12 billion, a decrease of 37.7% from NT$5.00 billion in the prior year.

Full-year total revenue totaled NT$33.22 billion, compared with NT$33.18 billion in the prior year, and total operating expenses declined on an annual basis to NT$31.98 billion from NT$32.39 billion.

The company said reported net income declined 36.2% on an annual basis to NT$4.17 billion, or NT$13.88 per share, in the full year, from NT$6.53 billion, or NT$21.74 per share.

As of March 29, US$1 was equivalent to NT$32.58.