Redhorse Corp. said its normalized net income for the fourth quarter came to NT$1.76 per share, compared with the S&P Capital IQ consensus estimate of NT$2.81 per share.

EPS increased 30.0% year over year from NT$1.36.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$85.0 million, a gain of 47.3% from NT$57.7 million in the year-earlier period.

The normalized profit margin fell to 3.8% from 4.2% in the year-earlier period.

Total revenue rose 65.2% on an annual basis to NT$2.26 billion from NT$1.37 billion, and total operating expenses climbed 62.9% on an annual basis to NT$2.08 billion from NT$1.28 billion.

Reported net income increased on an annual basis to NT$137.1 million, or NT$2.84 per share, from NT$50.1 million, or NT$1.18 per share.

For the year, the company's normalized net income totaled NT$3.08 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$4.15.

EPS rose from NT$1.52 in the prior year.

Normalized net income was NT$145.3 million, a rise from NT$64.9 million in the prior year.

Full-year total revenue rose 53.7% from the prior-year period to NT$5.73 billion from NT$3.73 billion, and total operating expenses increased 51.6% year over year to NT$5.51 billion from NT$3.63 billion.

The company said reported net income grew on an annual basis to NT$200.6 million, or NT$4.25 per share, in the full year, from NT$52.4 million, or NT$1.23 per share.

As of March 31, US$1 was equivalent to NT$30.34.