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Honmyue Enterprise Q4 profit climbs YOY

Honmyue Enterprise Co. Ltd. said its fourth-quarter normalized net income was 21 Taiwan cents per share, a gain from 6 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$27.0 million, an increase from NT$8.5 million in the prior-year period.

The normalized profit margin rose to 3.2% from 0.9% in the year-earlier period.

Total revenue fell 8.7% on an annual basis to NT$834.7 million from NT$914.0 million, and total operating expenses decreased 12.9% from the prior-year period to NT$793.5 million from NT$911.2 million.

Reported net income grew from the prior-year period to NT$35.3 million, or 27 cents per share, from NT$9.2 million, or 7 cents per share.

For the year, the company's normalized net income totaled 72 cents per share, an increase of 39.8% from 52 cents per share in the prior year.

Normalized net income was NT$94.3 million, a gain of 39.8% from NT$67.5 million in the prior year.

Full-year total revenue declined 7.4% year over year to NT$3.24 billion from NT$3.50 billion, and total operating expenses fell 10.2% on an annual basis to NT$3.06 billion from NT$3.41 billion.

The company said reported net income grew 32.9% year over year to NT$121.3 million, or 93 cents per share, in the full year, from NT$91.3 million, or 70 cents per share.

As of March 24, US$1 was equivalent to NT$30.48.