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Tsang Yow Industrial profit holds relatively steady YOY in Q4

Tsang Yow Industrial Co. Ltd. said its fourth-quarter normalized net income came to 32 Taiwan cents per share, compared with 32 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$33.6 million, compared with NT$33.7 million in the prior-year period.

The normalized profit margin fell to 5.2% from 5.5% in the year-earlier period.

Total revenue climbed year over year to NT$642.7 million from NT$614.5 million, and total operating expenses totaled NT$571.3 million, compared with NT$572.9 million in the prior-year period.

Reported net income increased 16.0% from the prior-year period to NT$44.7 million, or 43 cents per share, from NT$38.5 million, or 37 cents per share.

For the year, the company's normalized net income totaled NT$1.06 per share, an increase of 8.8% from 98 cents per share in the prior year.

Normalized net income was NT$110.0 million, a gain of 13.7% from NT$96.8 million in the prior year.

Full-year total revenue grew 6.4% on an annual basis to NT$2.38 billion from NT$2.24 billion, and total operating expenses increased on an annual basis to NT$2.18 billion from NT$2.09 billion.

The company said reported net income rose 11.6% on an annual basis to NT$138.9 million, or NT$1.34 per share, in the full year, from NT$124.4 million, or NT$1.25 per share.

As of March 28, US$1 was equivalent to NT$32.62.