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North-Star International swings to profit in Q4

North-Star International Co. Ltd. said its fourth-quarter normalized net income amounted to 6 Taiwan cents per share, compared with a loss of 5 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$11.9 million, compared with a loss of NT$8.0 million in the prior-year period.

The normalized profit margin increased to 1.2% from negative 0.9% in the year-earlier period.

Total revenue rose 11.1% on an annual basis to NT$982.3 million from NT$884.3 million, and total operating expenses increased 5.8% on an annual basis to NT$953.6 million from NT$901.0 million.

Reported net income increased from the prior-year period to NT$25.3 million, or 13 cents per share, from NT$10.9 million, or 7 cents per share.

For the year, the company's normalized net income totaled 17 cents per share, compared with a loss of 17 cents per share in the prior year.

Normalized net income was NT$32.0 million, compared with a loss of NT$25.0 million in the prior year.

Full-year total revenue increased 7.0% on an annual basis to NT$3.62 billion from NT$3.38 billion, and total operating expenses rose year over year to NT$3.56 billion from NT$3.43 billion.

The company said reported net income came to NT$57.4 million, or 30 cents per share, in the full year, compared with a loss of NT$16.0 million, or a loss of 11 cents per share, the prior year.

As of March 31, US$1 was equivalent to NT$30.34.