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Senao International Q4 profit climbs 24.8% YOY

Senao International Co. Ltd. said its fourth-quarter normalized net income came to NT$1.04 per share, an increase of 29.5% from 80 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$258.4 million, an increase of 24.8% from NT$207.0 million in the year-earlier period.

The normalized profit margin increased to 2.8% from 1.9% in the year-earlier period.

Total revenue fell 13.5% year over year to NT$9.27 billion from NT$10.72 billion, and total operating expenses decreased 14.7% on an annual basis to NT$8.95 billion from NT$10.49 billion.

Reported net income increased 26.4% from the prior-year period to NT$327.3 million, or NT$1.31 per share, from NT$258.9 million, or NT$1.00 per share.

For the year, the company's normalized net income totaled NT$2.51 per share, a gain of 52.8% from NT$1.64 per share in the prior year.

Normalized net income was NT$636.6 million, a rise of 49.8% from NT$425.1 million in the prior year.

Full-year total revenue declined 14.0% year over year to NT$35.56 billion from NT$41.35 billion, and total operating expenses decreased 15.0% on an annual basis to NT$34.88 billion from NT$41.04 billion.

The company said reported net income rose 46.1% year over year to NT$802.9 million, or NT$3.16 per share, in the full year, from NT$549.5 million, or NT$2.12 per share.

As of March 14, US$1 was equivalent to NT$32.71.