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Jian Sin Industrial swings to profit in Q4

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Jian Sin Industrial swings to profit in Q4

Jian Sin Industrial Co. Ltd. said its fourth-quarter normalized net income amounted to 41 Taiwan cents per share, compared with a loss of 37 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$15.8 million, compared with a loss of NT$10.7 million in the year-earlier period.

The normalized profit margin climbed to 2.4% from negative 4.9% in the year-earlier period.

Total revenue climbed on an annual basis to NT$648.0 million from NT$216.6 million, and total operating expenses grew year over year to NT$608.5 million from NT$227.0 million.

Reported net income came to NT$41.4 million, or NT$1.06 per share, compared to a loss of NT$23.7 million, or a loss of 82 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 66 cents per share, compared with a loss of NT$1.90 per share in the prior year.

Normalized net income was a loss of NT$20.8 million, compared with a loss of NT$53.9 million in the prior year.

Full-year total revenue rose 98.0% on an annual basis to NT$1.69 billion from NT$854.4 million, and total operating expenses increased 81.4% on an annual basis to NT$1.69 billion from NT$929.7 million.

The company said reported net income came to NT$7.5 million, or 24 cents per share, in the full year, compared with a loss of NT$92.9 million, or a loss of NT$3.28 per share, the prior year.

As of March 30, US$1 was equivalent to NT$32.18.