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Meiloon Industrial Q4 profit climbs 83.3% YOY

Meiloon Industrial Co. Ltd. said its fourth-quarter normalized net income was 52 Taiwan cents per share, a gain of 84.0% from 28 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$103.4 million, a gain of 83.3% from NT$56.4 million in the prior-year period.

The normalized profit margin rose to 8.8% from 4.8% in the year-earlier period.

Total revenue totaled NT$1.17 billion, compared with NT$1.18 billion in the year-earlier period, and total operating expenses decreased 5.2% year over year to NT$1.04 billion from NT$1.10 billion.

Reported net income grew 38.1% from the prior-year period to NT$129.6 million, or 65 cents per share, from NT$93.8 million, or 47 cents per share.

For the year, the company's normalized net income totaled NT$1.46 per share, a gain of 37.8% from NT$1.06 per share in the prior year.

Normalized net income was NT$290.4 million, a gain of 37.8% from NT$210.8 million in the prior year.

Full-year total revenue fell 12.0% from the prior-year period to NT$3.70 billion from NT$4.20 billion, and total operating expenses decreased 16.2% on an annual basis to NT$3.34 billion from NT$3.98 billion.

The company said reported net income rose 22.3% on an annual basis to NT$355.1 million, or NT$1.78 per share, in the full year, from NT$290.4 million, or NT$1.46 per share.

As of March 30, US$1 was equivalent to NT$30.31.