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Skyworth Digital fiscal H2 profit climbs 87.9% YOY

Skyworth Digital Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 amounted to 24 Hong Kong cents per share, a gain of 87.0% from 13 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 HK$665.8 million, a gain of 87.9% from HK$354.3 million in the year-earlier period.

Total revenue grew 11.3% on an annual basis to HK$21.66 billion from HK$19.46 billion, and total operating expenses increased 8.7% on an annual basis to HK$20.78 billion from HK$19.11 billion.

Reported net income increased on an annual basis to HK$2.30 billion, or 81 cents per share, from HK$535.2 million, or 19 cents per share.

For the year, the company's normalized net income totaled 45 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 66 cents.

EPS rose 30.8% from 34 cents in the prior year.

Normalized net income was HK$1.27 billion, an increase of 31.7% from HK$963.5 million in the prior year.

Full-year total revenue grew on an annual basis to HK$40.13 billion from HK$39.48 billion, and total operating expenses came to HK$38.68 billion, compared with HK$38.42 billion in the prior-year period.

The company said reported net income rose on an annual basis to HK$3.13 billion, or HK$1.10 per share, in the full year, from HK$1.25 billion, or 45 cents per share.