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KMC (Kuei Meng) International profit misses consensus by 25.0% in Q1

KMC (Kuei Meng) International Inc. said its first-quarter normalized net income amounted to NT$1.19 per share, compared with the S&P Capital IQ consensus estimate of NT$1.58 per share.

In the prior-year period, the per-share result was a profit of NT$1.18.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$142.3 million, a gain of 10.1% from NT$129.2 million in the year-earlier period.

The normalized profit margin declined to 14.9% from 15.8% in the year-earlier period.

Total revenue rose 16.6% year over year to NT$954.0 million from NT$818.0 million, and total operating expenses grew 19.2% year over year to NT$717.0 million from NT$601.3 million.

Reported net income increased 9.2% on an annual basis to NT$188.5 million, or NT$1.57 per share, from NT$172.6 million, or NT$1.58 per share.

As of May 13, US$1 was equivalent to NT$32.68.