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Lian Hwa Foods Q4 profit falls YOY

Lian Hwa Foods Corp. said its normalized net income for the fourth quarter was 50 Taiwan cents per share, a decrease of 12.7% from 57 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$80.0 million, a decline of 12.6% from NT$91.5 million in the prior-year period.

The normalized profit margin dropped to 5.1% from 6.0% in the year-earlier period.

Total revenue increased on an annual basis to NT$1.56 billion from NT$1.51 billion, and total operating expenses grew on an annual basis to NT$1.44 billion from NT$1.38 billion.

Reported net income decreased 12.9% from the prior-year period to NT$109.9 million, or 69 cents per share, from NT$126.1 million, or 79 cents per share.

For the year, the company's normalized net income totaled NT$1.49 per share, an increase of 48.1% from NT$1.01 per share in the prior year.

Normalized net income was NT$238.9 million, a rise of 48.2% from NT$161.2 million in the prior year.

Full-year total revenue grew 9.6% year over year to NT$6.46 billion from NT$5.89 billion, and total operating expenses increased 7.7% year over year to NT$6.10 billion from NT$5.67 billion.

The company said reported net income increased 60.8% year over year to NT$357.6 million, or NT$2.23 per share, in the full year, from NT$222.5 million, or NT$1.39 per share.

As of March 25, US$1 was equivalent to NT$32.56.