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Topkey profit misses consensus by 22.8% in Q4

Topkey Corp. said its normalized net income for the fourth quarter was NT$1.18 per share, compared with the S&P Capital IQ consensus estimate of NT$1.53 per share.

EPS declined 25.8% year over year from NT$1.59.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$107.6 million, a decline of 26.1% from NT$145.6 million in the year-earlier period.

The normalized profit margin declined to 6.9% from 8.5% in the year-earlier period.

Total revenue fell 6.3% year over year to NT$1.61 billion from NT$1.71 billion, and total operating expenses declined from the prior-year period to NT$1.49 billion from NT$1.57 billion.

Reported net income fell 17.1% on an annual basis to NT$134.9 million, or NT$1.48 per share, from NT$162.6 million, or NT$1.78 per share.

For the year, the company's normalized net income totaled NT$5.50 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$6.64.

EPS rose 13.8% from NT$4.83 in the prior year.

Normalized net income was NT$501.2 million, an increase of 13.8% from NT$440.3 million in the prior year.

Full-year total revenue grew year over year to NT$6.65 billion from NT$6.56 billion, and total operating expenses increased year over year to NT$6.12 billion from NT$5.90 billion.

The company said reported net income increased 10.9% year over year to NT$611.3 million, or NT$6.71 per share, in the full year, from NT$551.2 million, or NT$6.05 per share.

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