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Viettronics Tan Binh Q4 profit climbs 27.2% YOY

Viettronics Tan Binh JSC said its fourth-quarter normalized net income was 4.25 billion dong, a rise of 27.2% from 3.34 billion dong in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 3.6% from 5.8% in the year-earlier period.

Total revenue increased year over year to 119.60 billion dong from 57.61 billion dong, and total operating expenses rose year over year to 111.90 billion dong from 55.32 billion dong.

Reported net income totaled 6.10 billion dong, compared with 5.95 billion dong, or 550.85 dong per share, in the year-earlier period.

For the year, the company's normalized net income totaled 882.47 dong per share, a fall of 19.2% from 1,092.43 dong per share in the prior year.

Normalized net income was 9.53 billion dong, a decrease of 19.2% from 11.80 billion dong in the prior year.

Full-year total revenue increased 64.4% on an annual basis to 353.45 billion dong from 215.01 billion dong, and total operating expenses rose 64.5% on an annual basis to 340.63 billion dong from 207.04 billion dong.

The company said reported net income fell 28.7% year over year to 12.75 billion dong, or 1,179.68 dong per share, in the full year, from 17.88 billion dong, or 1,654.97 dong per share.

As of March 14, US$1 was equivalent to 22,295 dong.