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AVerMedia Technologies Q4 loss widens 75.1% YOY

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AVerMedia Technologies Q4 loss widens 75.1% YOY

AVerMedia Technologies Inc. said its fourth-quarter normalized net income amounted to a loss of 23 Taiwan cents per share, compared with a loss of 13 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$43.6 million, compared with a loss of NT$24.9 million in the prior-year period.

The normalized profit margin declined to negative 7.8% from negative 4.2% in the year-earlier period.

Total revenue fell 6.2% on an annual basis to NT$555.7 million from NT$592.4 million, and total operating expenses fell 6.9% on an annual basis to NT$632.9 million from NT$679.8 million.

Reported net income totaled a loss of NT$67.6 million, or a loss of 35 cents per share, compared to a loss of NT$53.2 million, or a loss of 27 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 86 cents per share, compared with a loss of 44 cents per share in the prior year.

Normalized net income was a loss of NT$167.8 million, compared with a loss of NT$87.2 million in the prior year.

Full-year total revenue declined 15.2% year over year to NT$2.23 billion from NT$2.64 billion, and total operating expenses declined 8.7% on an annual basis to NT$2.56 billion from NT$2.80 billion.

The company said reported net income came to a loss of NT$271.3 million, or a loss of NT$1.39 per share, in the full year, compared with a loss of NT$145.9 million, or a loss of 74 cents per share, the prior year.

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