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Holux Technology Q4 loss widens YOY

Holux Technology Inc. said its fourth-quarter normalized net income amounted to a loss of 48 Taiwan cents per share, compared with a loss of 7 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 a loss of NT$16.9 million, compared with a loss of NT$5.2 million in the prior-year period.

The normalized profit margin fell to negative 23.0% from negative 2.9% in the year-earlier period.

Total revenue declined 58.8% on an annual basis to NT$73.7 million from NT$178.8 million, and total operating expenses fell 47.1% on an annual basis to NT$99.9 million from NT$188.9 million.

Reported net income totaled a loss of NT$27.1 million, or a loss of 76 cents per share, compared to a loss of NT$8.4 million, or a loss of 11 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of NT$1.21 per share, compared with a loss of 60 cents per share in the prior year.

Normalized net income was a loss of NT$42.9 million, compared with a loss of NT$21.4 million in the prior year.

Full-year total revenue fell 40.8% from the prior-year period to NT$487.9 million from NT$824.4 million, and total operating expenses fell 34.6% year over year to NT$568.1 million from NT$868.0 million.

The company said reported net income came to a loss of NT$108.7 million, or a loss of NT$3.07 per share, in the full year, compared with a loss of NT$34.7 million, or a loss of 98 cents per share, the prior year.

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