Lighting solution provider Tons Lightology saw worse-than-expected results in second-quarter 2017 despite it being a traditional peak season, as Europe-based clients adjusted inventory levels and decreased orders, and competition from China-based firms heated up significantly, according to the company.

Tons Lightology posted consolidated revenues of NT$246.1 million (US$8.1 million), gross margin of 35.47%, net operating profit of NT$27.1 million, net profit of NT$23.2 million and net EPS of NT$0.58 for the second quarter, leading to consolidated revenues of NT$456.4 million, gross margin of 35.08%, net operating profit of NT$45.9 million, net profit of NT$40.4 million and net EPS of NT$1.01.

Tons Lightology has many ongoing lighting projects for museums, galleries and commercial facilities in China and Taiwan and expects consolidated revenues for the second half of 2017 to grow sequentially.