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Tah Hsin Industrial Q4 profit falls YOY

Tah Hsin Industrial Corp. said its normalized net income for the fourth quarter amounted to 6 Taiwan cents per share, a decline of 73.5% from 22 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$11.0 million, a decline of 73.5% from NT$41.6 million in the year-earlier period.

The normalized profit margin fell to 1.7% from 5.5% in the year-earlier period.

Total revenue decreased 13.4% on an annual basis to NT$654.2 million from NT$755.8 million, and total operating expenses fell 12.3% on an annual basis to NT$635.3 million from NT$724.7 million.

Reported net income declined 44.3% on an annual basis to NT$40.1 million, or 21 cents per share, from NT$72.0 million, or 38 cents per share.

For the year, the company's normalized net income totaled 77 cents per share, a gain from 74 cents per share in the prior year.

Normalized net income was NT$146.7 million, a decline from NT$151.6 million in the prior year.

Full-year total revenue decreased 8.8% on an annual basis to NT$2.73 billion from NT$2.99 billion, and total operating expenses decreased 8.6% on an annual basis to NT$2.65 billion from NT$2.90 billion.

The company said reported net income rose 8.1% year over year to NT$255.9 million, or NT$1.34 per share, in the full year, from NT$236.6 million, or NT$1.16 per share.

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