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Kian Shen profit misses consensus by 29.7% in Q3

Kian Shen Corp. said its normalized net income for the third quarter was 85 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.21 per share.

EPS climbed 16.1% year over year from 73 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$62.3 million, a gain of 16.1% from NT$53.7 million in the prior-year period.

The normalized profit margin climbed to 20.7% from 18.0% in the year-earlier period.

Total revenue came to NT$300.6 million, compared with NT$297.7 million in the year-earlier period, and total operating expenses rose year over year to NT$294.9 million from NT$290.4 million.

Reported net income rose 12.4% on an annual basis to NT$94.2 million, or NT$1.28 per share, from NT$83.8 million, or NT$1.14 per share.

As of Nov. 10, US$1 was equivalent to NT$32.74.