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Jean Co. Ltd. swings to profit in Q4

Jean Co. Ltd. said its fourth-quarter normalized net income was 8 Taiwan cents per share, compared with a loss of 13 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$21.0 million, compared with a loss of NT$30.5 million in the year-earlier period.

The normalized profit margin increased to 6.5% from negative 13.4% in the year-earlier period.

Total revenue climbed 42.0% on an annual basis to NT$323.0 million from NT$227.5 million, and total operating expenses increased 45.1% from the prior-year period to NT$335.0 million from NT$230.9 million.

Reported net income declined 62.4% on an annual basis to NT$12.5 million, or 5 cents per share, from NT$33.1 million, or 14 cents per share.

For the year, the company's normalized net income totaled 21 cents per share, a gain from 20 cents per share in the prior year.

Normalized net income was NT$49.5 million, a rise from NT$48.1 million in the prior year.

Full-year total revenue rose 27.9% from the prior-year period to NT$1.23 billion from NT$964.5 million, and total operating expenses grew 29.3% on an annual basis to NT$1.20 billion from NT$929.9 million.

The company said reported net income decreased 64.6% year over year to NT$50.5 million, or 21 cents per share, in the full year, from NT$143.0 million, or 60 cents per share.

As of March 1, US$1 was equivalent to NT$33.15.