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Chi Hua Fitness Q4 profit climbs 24.1% YOY

Chi Hua Fitness Co. Ltd. said its fourth-quarter normalized net income amounted to 60 Taiwan cents per share, an increase of 7.6% from 56 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 NT$19.3 million, an increase of 24.1% from NT$15.5 million in the prior-year period.

The normalized profit margin climbed to 8.5% from 6.3% in the year-earlier period.

Total revenue declined 10.7% on an annual basis to NT$220.0 million from NT$246.4 million, and total operating expenses fell 13.1% on an annual basis to NT$200.6 million from NT$231.0 million.

Reported net income rose year over year to NT$37.5 million, or NT$1.17 per share, from NT$16.4 million, or 59 cents per share.

For the year, the company's normalized net income totaled NT$2.01 per share, an increase from NT$1.98 per share in the prior year.

Normalized net income was NT$62.9 million, a gain of 14.8% from NT$54.8 million in the prior year.

Full-year total revenue fell 7.2% year over year to NT$842.8 million from NT$908.0 million, and total operating expenses decreased 8.5% on an annual basis to NT$771.4 million from NT$842.6 million.

The company said reported net income grew 52.5% year over year to NT$96.7 million, or NT$3.09 per share, in the full year, from NT$63.4 million, or NT$2.29 per share.

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