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Flavor Full Foods H2 profit falls YOY

Flavor Full Foods Inc. said its second-half normalized net income amounted to NT$526,880, a fall of 97.3% from NT$19.7 million in the prior-year period.

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

Total revenue declined 16.3% year over year to NT$1.21 billion from NT$1.44 billion, and total operating expenses decreased 19.0% on an annual basis to NT$1.18 billion from NT$1.45 billion.

Reported net income fell 67.2% year over year to NT$9.5 million, or 9 cents per share, from NT$28.9 million, or 28 cents per share.

For the year, the company's normalized net income totaled 26 cents per share, an increase of 62.4% from 16 cents per share in the prior year.

Normalized net income was NT$26.9 million, an increase of 62.6% from NT$16.5 million in the prior year.

Full-year total revenue fell 7.2% on an annual basis to NT$2.71 billion from NT$2.93 billion, and total operating expenses fell 10.8% year over year to NT$2.63 billion from NT$2.95 billion.

The company said reported net income fell 13.6% on an annual basis to NT$51.1 million, or 50 cents per share, in the full year, from NT$59.1 million, or 58 cents per share.

As of April 8, US$1 was equivalent to NT$32.36.