Tong-Hwa Synthetic Fiber Co. Ltd. said its fourth-quarter normalized net income came to a loss of 98 Taiwan cents per share, compared with a loss of 93 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$43.0 million, compared with a loss of NT$39.9 million in the prior-year period.

The normalized profit margin declined to negative 10.4% from negative 7.2% in the year-earlier period.

Total revenue decreased 25.7% on an annual basis to NT$412.5 million from NT$555.3 million, and total operating expenses decreased 22.6% on an annual basis to NT$474.4 million from NT$612.6 million.

Reported net income came to a loss of NT$69.2 million, or a loss of NT$1.58 per share, compared to a loss of NT$63.9 million, or a loss of NT$1.49 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of NT$2.54 per share, compared with a loss of NT$2.29 per share in the prior year.

Normalized net income was a loss of NT$111.1 million, compared with a loss of NT$98.3 million in the prior year.

Full-year total revenue fell 27.6% on an annual basis to NT$1.45 billion from NT$2.01 billion, and total operating expenses declined 24.2% on an annual basis to NT$1.66 billion from NT$2.19 billion.

The company said reported net income totaled a loss of NT$180.1 million, or a loss of NT$4.12 per share, in the full year, compared with a loss of NT$160.1 million, or a loss of NT$3.73 per share, the prior year.

As of March 25, US$1 was equivalent to NT$32.56.