Hotai Motor Co. Ltd. said its normalized net income for the fourth quarter came to NT$3.38 per share, compared with the S&P Capital IQ consensus estimate of NT$4.58 per share.

EPS increased 23.0% year over year from NT$2.75.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.85 billion, a gain of 23.0% from NT$1.50 billion in the year-earlier period.

The normalized profit margin climbed to 4.1% from 3.6% in the year-earlier period.

Total revenue increased 9.5% on an annual basis to NT$45.55 billion from NT$41.60 billion, and total operating expenses rose 8.2% on an annual basis to NT$43.16 billion from NT$39.87 billion.

Reported net income grew 22.3% on an annual basis to NT$2.55 billion, or NT$4.66 per share, from NT$2.08 billion, or NT$3.81 per share.

For the year, the company's normalized net income totaled NT$14.20 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$19.22.

EPS rose 8.4% from NT$13.10 in the prior year.

Normalized net income was NT$7.76 billion, a rise of 8.4% from NT$7.16 billion in the prior year.

Full-year total revenue increased 7.4% from the prior-year period to NT$172.53 billion from NT$160.61 billion, and total operating expenses increased 7.2% on an annual basis to NT$162.34 billion from NT$151.49 billion.

The company said reported net income increased 9.8% on an annual basis to NT$10.74 billion, or NT$19.65 per share, in the full year, from NT$9.78 billion, or NT$17.89 per share.

As of March 29, US$1 was equivalent to NT$30.25.