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Tekom Technologies swings to profit in Q4

Tekom Technologies Inc. said its fourth-quarter normalized net income came to 93 Taiwan cents per share, compared with a loss of 3 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$19.8 million, compared with a loss of NT$611,880 in the year-earlier period.

The normalized profit margin rose to 11.6% from negative 0.4% in the year-earlier period.

Total revenue increased 19.4% year over year to NT$170.0 million from NT$142.3 million, and total operating expenses fell year over year to NT$139.3 million from NT$143.5 million.

Reported net income totaled NT$31.6 million, or NT$1.48 per share, compared to a loss of NT$1.1 million, or a loss of 5 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled NT$3.66 per share, an increase from 19 cents per share in the prior year.

Normalized net income was NT$78.0 million, an increase from NT$4.1 million in the prior year.

Full-year total revenue grew 61.4% from the prior-year period to NT$685.9 million from NT$425.1 million, and total operating expenses increased 34.5% on an annual basis to NT$562.5 million from NT$418.2 million.

The company said reported net income rose year over year to NT$124.5 million, or NT$5.84 per share, in the full year, from NT$5.3 million, or 25 cents per share.

As of March 30, US$1 was equivalent to NT$32.18.