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CHANG TYPE Industrial Q4 profit climbs YOY

CHANG TYPE Industrial Co. Ltd. said its fourth-quarter normalized net income came to 66 Taiwan cents per share, an increase from 63 cents 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$51.9 million, a gain from NT$49.6 million in the year-earlier period.

The normalized profit margin increased to 8.6% from 7.6% in the year-earlier period.

Total revenue decreased 7.5% on an annual basis to NT$603.6 million from NT$652.4 million, and total operating expenses decreased 14.8% year over year to NT$522.9 million from NT$613.4 million.

Reported net income declined 8.7% from the prior-year period to NT$59.2 million, or 75 cents per share, from NT$64.8 million, or 82 cents per share.

For the year, the company's normalized net income totaled NT$2.82 per share, an increase of 81.6% from NT$1.55 per share in the prior year.

Normalized net income was NT$222.1 million, an increase of 81.8% from NT$122.2 million in the prior year.

Full-year total revenue rose 7.4% from the prior-year period to NT$2.89 billion from NT$2.69 billion, and total operating expenses rose year over year to NT$2.59 billion from NT$2.55 billion.

The company said reported net income increased 74.4% on an annual basis to NT$283.2 million, or NT$3.59 per share, in the full year, from NT$162.3 million, or NT$2.06 per share.

As of March 25, US$1 was equivalent to NT$32.56.