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Zig Sheng Industrial profit beats consensus by 41.3% in Q4

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Zig Sheng Industrial profit beats consensus by 41.3% in Q4

Zig Sheng Industrial Co. Ltd. said its normalized net income for the fourth quarter amounted to NT$34.6 million, a rise from NT$3.6 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.0% from 0.1% in the year-earlier period.

Total revenue decreased 25.6% year over year to NT$3.50 billion from NT$4.70 billion, and total operating expenses decreased 26.7% on an annual basis to NT$3.47 billion from NT$4.74 billion.

Reported net income totaled NT$24.5 million, or 3 cents per share, compared to NT$24.5 million, or 4 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled NT$5.1 million, compared with income of NT$13.7 million in the prior year.

Full-year total revenue decreased 17.5% on an annual basis to NT$14.99 billion from NT$18.17 billion, and total operating expenses fell 17.2% on an annual basis to NT$15.07 billion from NT$18.20 billion.

The company said reported net income rose year over year to NT$134.7 million, or 22 cents per share, in the full year, from NT$55.1 million, or 9 cents per share.

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