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Airmate International Q4 loss widens 31.3% YOY

Airmate (Cayman) International Co Ltd. said its normalized net income for the fourth quarter came to a loss of 64 Taiwan cents per share, compared with a loss of 48 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 a loss of NT$78.2 million, compared with a loss of NT$59.6 million in the prior-year period.

The normalized profit margin declined to negative 3.7% from negative 2.4% in the year-earlier period.

Total revenue decreased 14.1% on an annual basis to NT$2.11 billion from NT$2.45 billion, and total operating expenses declined 12.9% year over year to NT$2.21 billion from NT$2.53 billion.

Reported net income came to a loss of NT$99.1 million, or a loss of 81 cents per share, compared to a loss of NT$96.0 million, or a loss of 77 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 68 cents per share, compared with a loss of NT$1.67 per share in the prior year.

Normalized net income was a loss of NT$83.3 million, compared with a loss of NT$205.8 million in the prior year.

Full-year total revenue declined 9.5% year over year to NT$10.97 billion from NT$12.12 billion, and total operating expenses decreased 10.6% year over year to NT$11.03 billion from NT$12.33 billion.

The company said reported net income came to a loss of NT$94.0 million, or a loss of 77 cents per share, in the full year, compared with a loss of NT$331.9 million, or a loss of NT$2.70 per share, the prior year.

As of March 4, US$1 was equivalent to NT$32.59.