Tonlin Department Store Co. Ltd. said its normalized net income for the fourth quarter was 8 Taiwan cents per share, a decline of 33.8% from 12 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$13.9 million, a decline of 33.7% from NT$21.0 million in the year-earlier period.

The normalized profit margin fell to 7.9% from 9.1% in the year-earlier period.

Total revenue fell 11.0% year over year to NT$204.4 million from NT$229.7 million, and total operating expenses declined 8.9% on an annual basis to NT$175.9 million from NT$193.2 million.

Reported net income increased 6.7% on an annual basis to NT$28.1 million, or 16 cents per share, from NT$26.3 million, or 15 cents per share.

For the year, the company's normalized net income totaled 31 cents per share, a decrease of 56.3% from 70 cents per share in the prior year.

Normalized net income was NT$53.5 million, a decrease of 56.3% from NT$122.3 million in the prior year.

Full-year total revenue decreased 31.7% year over year to NT$669.7 million from NT$980.6 million, and total operating expenses fell 27.0% on an annual basis to NT$566.3 million from NT$775.2 million.

The company said reported net income fell 52.5% year over year to NT$80.7 million, or 46 cents per share, in the full year, from NT$169.9 million, or 97 cents per share.

As of March 25, US$1 was equivalent to NT$32.56.