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Advanced International Multitech profit beats consensusin Q4

Advanced International Multitech Co. Ltd. said its normalized net income for the fourth quarter amounted to 97 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS climbed 14.9% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$129.3 million, a gain of 14.1% from NT$113.3 million in the year-earlier period.

The normalized profit margin climbed to 4.9% from 4.3% in the year-earlier period.

Total revenue increased on an annual basis to NT$2.66 billion from NT$2.64 billion, and total operating expenses decreased year over year to NT$2.46 billion from NT$2.51 billion.

Reported net income rose 79.2% on an annual basis to NT$168.4 million, or NT$1.26 per share, from NT$94.0 million, or 70 cents per share.

For the year, the company's normalized net income totaled 45 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 67 cents.

EPS rose from 14 cents in the prior year.

Normalized net income was NT$60.0 million, a gain from NT$18.9 million in the prior year.

Full-year total revenue declined 7.8% year over year to NT$8.79 billion from NT$9.53 billion, and total operating expenses fell 9.4% on an annual basis to NT$8.72 billion from NT$9.62 billion.

The company said reported net income came to NT$6.7 million, or 5 cents per share, in the full year, compared with a loss of NT$77.6 million, or a loss of 58 cents per share, the prior year.

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