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Wowprime swings to loss in Q4

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Wowprime swings to loss in Q4

Wowprime Corp. said its normalized net income for the fourth quarter came to a loss of 71 Taiwan cents per share, compared with 83 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 a loss of NT$54.8 million, compared with income of NT$64.1 million in the prior-year period.

The normalized profit margin declined to negative 1.4% from 1.6% in the year-earlier period.

Total revenue fell year over year to NT$3.90 billion from NT$3.97 billion, and total operating expenses increased year over year to NT$3.94 billion from NT$3.80 billion.

Reported net income totaled a loss of NT$204.8 million, or a loss of NT$2.66 per share, compared to income of NT$13.1 million, or 16 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled NT$3.29 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$4.35.

EPS declined 59.5% from NT$8.13 in the prior year.

Normalized net income was NT$253.6 million, a fall of 59.5% from NT$626.2 million in the prior year.

Full-year total revenue amounted to NT$16.83 billion, compared with NT$16.92 billion in the prior year, and total operating expenses increased year over year to NT$16.12 billion from NT$15.71 billion.

The company said reported net income declined 95.1% year over year to NT$34.6 million, or 45 cents per share, in the full year, from NT$703.7 million, or NT$9.14 per share.

As of March 29, US$1 was equivalent to NT$32.58.