Redwood Group Ltd. said its normalized net income for the fourth quarter came to NT$1.11 per share, compared with the S&P Capital IQ consensus estimate of NT$1.17 per share.

EPS increased year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$55.8 million, a gain from NT$23.8 million in the year-earlier period.

The normalized profit margin climbed to 11.8% from 4.8% in the year-earlier period.

Total revenue decreased 5.5% year over year to NT$471.0 million from NT$498.5 million, and total operating expenses declined 17.0% year over year to NT$386.3 million from NT$465.4 million.

Reported net income grew 99.9% on an annual basis to NT$74.2 million, or NT$1.48 per share, from NT$37.1 million, or 73 cents per share.

For the year, the company's normalized net income totaled NT$2.39 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$2.79.

EPS declined 16.9% from NT$2.88 in the prior year.

Normalized net income was NT$120.2 million, a decline of 17.2% from NT$145.1 million in the prior year.

Full-year total revenue declined 16.4% from the prior-year period to NT$1.75 billion from NT$2.09 billion, and total operating expenses declined 15.6% on an annual basis to NT$1.57 billion from NT$1.86 billion.

The company said reported net income decreased 19.8% year over year to NT$156.0 million, or NT$3.10 per share, in the full year, from NT$194.6 million, or NT$3.86 per share.

As of March 24, US$1 was equivalent to NT$32.51.