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Dynamic Precision Industry Q4 profit falls YOY

Dynamic Precision Industry Corp. said its fourth-quarter normalized net income came to NT$1.13 per share, a decline of 21.4% from NT$1.44 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$58.1 million, a decline of 21.6% from NT$74.1 million in the year-earlier period.

The normalized profit margin fell to 8.7% from 9.0% in the year-earlier period.

Total revenue fell 19.0% on an annual basis to NT$667.8 million from NT$824.4 million, and total operating expenses decreased 19.8% year over year to NT$584.4 million from NT$729.1 million.

Reported net income declined 30.3% from the prior-year period to NT$75.3 million, or NT$1.47 per share, from NT$108.0 million, or NT$2.10 per share.

For the year, the company's normalized net income totaled NT$2.82 per share, a fall of 7.3% from NT$3.05 per share in the prior year.

Normalized net income was NT$144.3 million, a fall of 7.2% from NT$155.5 million in the prior year.

Full-year total revenue declined 6.4% on an annual basis to NT$2.03 billion from NT$2.17 billion, and total operating expenses decreased 7.0% year over year to NT$1.81 billion from NT$1.95 billion.

The company said reported net income fell 5.8% on an annual basis to NT$203.5 million, or NT$3.98 per share, in the full year, from NT$216.0 million, or NT$4.23 per share.

As of March 9, US$1 was equivalent to NT$32.76.