Lion Travel Service Co. Ltd. said its fourth-quarter normalized net income was 48 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS decreased 20.4% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$33.6 million, a decline of 20.0% from NT$42.0 million in the year-earlier period.

The normalized profit margin declined to 0.7% from 1.0% in the year-earlier period.

Total revenue climbed 13.0% on an annual basis to NT$4.71 billion from NT$4.17 billion, and total operating expenses climbed 13.4% from the prior-year period to NT$4.70 billion from NT$4.15 billion.

Reported net income fell 26.1% on an annual basis to NT$40.0 million, or 56 cents per share, from NT$54.1 million, or 77 cents per share.

For the year, the company's normalized net income totaled NT$5.01 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$7.39.

EPS rose 19.9% from NT$4.18 in the prior year.

Normalized net income was NT$352.6 million, a gain of 20.0% from NT$293.9 million in the prior year.

Full-year total revenue grew 18.7% from the prior-year period to NT$21.00 billion from NT$17.69 billion, and total operating expenses grew 18.7% on an annual basis to NT$20.59 billion from NT$17.34 billion.

The company said reported net income grew 17.3% year over year to NT$450.4 million, or NT$6.40 per share, in the full year, from NT$383.9 million, or NT$5.46 per share.

As of March 29, US$1 was equivalent to NT$32.58.