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Wowprime profit misses consensus by 45.1% in Q4

Wowprime Corp. said its fourth-quarter normalized net income was 68 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of NT$1.24 per share.

The per-share result swung to a profit from the prior-year loss of 71 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$52.5 million, compared with a loss of NT$54.8 million in the year-earlier period.

The normalized profit margin climbed to 1.4% from negative 1.4% in the year-earlier period.

Total revenue declined on an annual basis to NT$3.79 billion from NT$3.90 billion, and total operating expenses decreased 7.9% year over year to NT$3.63 billion from NT$3.94 billion.

Reported net income came to NT$39.3 million, or 51 cents per share, compared to a loss of NT$204.8 million, or a loss of NT$2.66 per share, in the prior-year period.

For the year, the company's normalized net income totaled NT$4.49 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$4.96.

EPS rose 36.2% from NT$3.29 in the prior year.

Normalized net income was NT$345.4 million, an increase of 36.2% from NT$253.6 million in the prior year.

Full-year total revenue fell on an annual basis to NT$16.10 billion from NT$16.83 billion, and total operating expenses decreased 5.5% on an annual basis to NT$15.23 billion from NT$16.12 billion.

The company said reported net income grew year over year to NT$323.4 million, or NT$4.20 per share, in the full year, from NT$34.6 million, or 45 cents per share.

As of March 22, US$1 was equivalent to NT$30.49.