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Meiloon Industrial swings to profit in Q4

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Meiloon Industrial swings to profit in Q4

Meiloon Industrial Co. Ltd. said its fourth-quarter normalized net income came to 28 Taiwan cents per share, compared with a loss of 16 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 NT$56.4 million, compared with a loss of NT$32.2 million in the prior-year period.

The normalized profit margin increased to 4.8% from negative 3.0% in the year-earlier period.

Total revenue rose 8.2% on an annual basis to NT$1.18 billion from NT$1.09 billion, and total operating expenses declined 6.8% from the prior-year period to NT$1.10 billion from NT$1.18 billion.

Reported net income came to NT$93.8 million, or 47 cents per share, compared to a loss of NT$29.9 million, or a loss of 15 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled NT$210.8 million, a rise from NT$1.8 million in the prior year.

Full-year total revenue grew 11.9% on an annual basis to NT$4.20 billion from NT$3.75 billion, and total operating expenses totaled NT$3.98 billion, compared with NT$3.95 billion in the prior-year period.

The company said reported net income totaled NT$290.4 million, or NT$1.46 per share, in the full year, compared with a loss of NT$180.6 million, or a loss of 91 cents per share, the prior year.

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