Tai Roun Products Co. Ltd. said its normalized net income for the fourth quarter came to NT$28.9 million, compared with a loss of NT$712,750 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 3.4% from negative 0.1% in the year-earlier period.

Total revenue fell 33.5% year over year to NT$845.9 million from NT$1.27 billion, and total operating expenses declined 37.8% year over year to NT$801.9 million from NT$1.29 billion.

Reported net income totaled NT$32.0 million, or 18 cents per share, compared to a loss of NT$3.6 million, or a loss of 2 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 53 cents per share, a gain from 25 cents per share in the prior year.

Normalized net income was NT$94.3 million, a gain from NT$44.5 million in the prior year.

Full-year total revenue declined 13.1% on an annual basis to NT$3.28 billion from NT$3.77 billion, and total operating expenses declined 15.4% year over year to NT$3.16 billion from NT$3.74 billion.

The company said reported net income increased on an annual basis to NT$119.0 million, or 67 cents per share, in the full year, from NT$53.2 million, or 30 cents per share.

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