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TTET Union Q4 profit climbs 19.0% YOY

TTET Union Corp. said its normalized net income for the fourth quarter came to NT$1.22 per share, a gain of 19.2% from NT$1.02 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$195.7 million, an increase of 19.0% from NT$164.4 million in the prior-year period.

The normalized profit margin increased to 4.2% from 3.7% in the year-earlier period.

Total revenue rose 5.7% on an annual basis to NT$4.66 billion from NT$4.41 billion, and total operating expenses grew 5.3% year over year to NT$4.38 billion from NT$4.16 billion.

Reported net income rose 16.6% on an annual basis to NT$256.8 million, or NT$1.60 per share, from NT$220.2 million, or NT$1.37 per share.

For the year, the company's normalized net income totaled NT$4.21 per share, a decrease from NT$4.30 per share in the prior year.

Normalized net income was NT$675.4 million, a fall from NT$690.5 million in the prior year.

Full-year total revenue decreased from the prior-year period to NT$17.38 billion from NT$17.77 billion, and total operating expenses declined year over year to NT$16.28 billion from NT$16.74 billion.

The company said reported net income declined on an annual basis to NT$891.4 million, or NT$5.56 per share, in the full year, from NT$912.8 million, or NT$5.69 per share.

As of March 24, US$1 was equivalent to NT$30.48.