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Redhorse Q4 profit climbs YOY

Redhorse Corp. said its normalized net income for the fourth quarter amounted to NT$1.36 per share, a gain from NT$1.30 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$57.7 million, an increase from NT$55.2 million in the year-earlier period.

The normalized profit margin fell to 4.2% from 5.3% in the year-earlier period.

Total revenue increased 32.1% year over year to NT$1.37 billion from NT$1.03 billion, and total operating expenses climbed 34.4% from the prior-year period to NT$1.28 billion from NT$951.2 million.

Reported net income declined 23.0% from the prior-year period to NT$50.3 million, or NT$1.18 per share, from NT$65.3 million, or NT$1.53 per share.

For the year, the company's normalized net income totaled NT$1.52 per share, an increase of 49.3% from NT$1.02 per share in the prior year.

Normalized net income was NT$64.9 million, a gain of 49.3% from NT$43.5 million in the prior year.

Full-year total revenue increased from the prior-year period to NT$3.73 billion from NT$3.65 billion, and total operating expenses rose year over year to NT$3.63 billion from NT$3.58 billion.

The company said reported net income grew 23.6% year over year to NT$52.5 million, or NT$1.23 per share, in the full year, from NT$42.5 million, or 100 cents per share.

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