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Lily Textile Q4 loss narrows YOY

Lily Textile Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 22 Taiwan cents per share, compared with a loss of 67 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$29.6 million, compared with a loss of NT$89.9 million in the year-earlier period.

The normalized profit margin increased to negative 9.0% from negative 26.3% in the year-earlier period.

Total revenue decreased year over year to NT$329.9 million from NT$342.2 million, and total operating expenses declined 26.4% from the prior-year period to NT$344.5 million from NT$467.9 million.

Reported net income came to a loss of NT$64.3 million, or a loss of 48 cents per share, compared to income of NT$81.0 million, or 60 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 32 cents per share, compared with a loss of NT$1.07 per share in the prior year.

Normalized net income was a loss of NT$42.6 million, compared with a loss of NT$144.5 million in the prior year.

Full-year total revenue fell 24.7% year over year to NT$1.31 billion from NT$1.75 billion, and total operating expenses decreased 28.6% on an annual basis to NT$1.43 billion from NT$2.00 billion.

The company said reported net income totaled a loss of NT$119.8 million, or a loss of 89 cents per share, in the full year, compared with a loss of NT$204.0 million, or a loss of NT$1.51 per share, the prior year.

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