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Farcent Enterprise Q4 profit climbs 28.5% YOY

Farcent Enterprise Co. Ltd. said its fourth-quarter normalized net income amounted to 64 Taiwan cents per share, an increase of 28.5% from 50 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$34.5 million, an increase of 28.5% from NT$26.8 million in the prior-year period.

The normalized profit margin climbed to 6.1% from 5.5% in the year-earlier period.

Total revenue rose 14.9% on an annual basis to NT$563.4 million from NT$490.5 million, and total operating expenses grew 14.7% from the prior-year period to NT$515.7 million from NT$449.5 million.

Reported net income increased 19.8% year over year to NT$44.0 million, or 82 cents per share, from NT$36.8 million, or 69 cents per share.

For the year, the company's normalized net income totaled NT$2.18 per share, an increase of 29.3% from NT$1.68 per share in the prior year.

Normalized net income was NT$116.4 million, an increase of 29.3% from NT$90.1 million in the prior year.

Full-year total revenue rose 24.4% on an annual basis to NT$1.99 billion from NT$1.60 billion, and total operating expenses rose 22.9% year over year to NT$1.81 billion from NT$1.47 billion.

The company said reported net income increased 27.5% on an annual basis to NT$145.8 million, or NT$2.73 per share, in the full year, from NT$114.4 million, or NT$2.14 per share.

As of March 1, US$1 was equivalent to NT$33.15.