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Tah Tong Textile Q4 loss narrows YOY

Tah Tong Textile Co. Ltd. said its fourth-quarter normalized net income was a loss of 25 Taiwan cents per share, compared with a loss of 86 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$15.4 million, compared with a loss of NT$53.1 million in the prior-year period.

The normalized profit margin climbed to negative 3.6% from negative 9.8% in the year-earlier period.

Total revenue decreased 20.3% on an annual basis to NT$430.6 million from NT$540.3 million, and total operating expenses decreased 27.2% year over year to NT$457.5 million from NT$628.2 million.

Reported net income came to a loss of NT$24.3 million, or a loss of 39 cents per share, compared to a loss of NT$87.2 million, or a loss of NT$1.41 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 88 cents per share, compared with a loss of NT$1.95 per share in the prior year.

Normalized net income was a loss of NT$54.8 million, compared with a loss of NT$121.0 million in the prior year.

Full-year total revenue rose 10.3% on an annual basis to NT$1.83 billion from NT$1.66 billion, and total operating expenses came to NT$1.90 billion, compared with NT$1.89 billion in the prior-year period.

The company said reported net income came to a loss of NT$83.6 million, or a loss of NT$1.35 per share, in the full year, compared with a loss of NT$194.6 million, or a loss of NT$3.14 per share, the prior year.

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