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Carnival Industrial swings to loss in Q4

Carnival Industrial Corp. said its normalized net income for the fourth quarter amounted to a loss of 24 Taiwan cents per share, compared with 3 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$90.1 million, compared with income of NT$10.1 million in the year-earlier period.

The normalized profit margin declined to negative 9.8% from 1.1% in the year-earlier period.

Total revenue climbed year over year to NT$917.1 million from NT$894.2 million, and total operating expenses grew 19.8% from the prior-year period to NT$1.06 billion from NT$888.6 million.

Reported net income came to a loss of NT$72.1 million, or a loss of 19 cents per share, compared to income of NT$23.8 million, or 6 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 74 cents per share, compared with a loss of 4 cents per share in the prior year.

Normalized net income was a loss of NT$280.4 million, compared with a loss of NT$15.7 million in the prior year.

Full-year total revenue rose 8.1% from the prior-year period to NT$3.55 billion from NT$3.29 billion, and total operating expenses increased 16.7% year over year to NT$4.06 billion from NT$3.48 billion.

The company said reported net income totaled a loss of NT$384.6 million, or a loss of NT$1.01 per share, in the full year, compared with income of NT$29.1 million, or 8 cents per share, the prior year.

As of March 29, US$1 was equivalent to NT$32.58.