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Gourmet Master Q4 profit climbs 37.7% YOY

Gourmet Master Co. Ltd. said its fourth-quarter normalized net income came to NT$1.77 per share, compared with the S&P Capital IQ consensus estimate of NT$1.89 per share.

EPS increased 37.7% year over year from NT$1.28.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$287.7 million, an increase of 37.7% from NT$209.0 million in the prior-year period.

The normalized profit margin climbed to 5.3% from 4.3% in the year-earlier period.

Total revenue climbed 12.6% on an annual basis to NT$5.45 billion from NT$4.84 billion, and total operating expenses rose 9.8% on an annual basis to NT$4.96 billion from NT$4.52 billion.

Reported net income grew 65.5% from the prior-year period to NT$350.4 million, or NT$2.15 per share, from NT$211.7 million, or NT$1.30 per share.

For the year, the company's normalized net income totaled NT$6.49 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$6.74.

EPS rose 80.3% from NT$3.60 in the prior year.

Normalized net income was NT$1.06 billion, an increase of 80.3% from NT$586.8 million in the prior year.

Full-year total revenue grew 14.2% on an annual basis to NT$20.46 billion from NT$17.92 billion, and total operating expenses grew 10.0% on an annual basis to NT$18.78 billion from NT$17.07 billion.

The company said reported net income rose on an annual basis to NT$1.14 billion, or NT$6.99 per share, in the full year, from NT$527.5 million, or NT$3.24 per share.

As of March 23, US$1 was equivalent to NT$32.48.