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Chia Her Industrial profit holds relatively steady YOY in Q4

Chia Her Industrial Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 29 Taiwan cents per share, compared with a loss of 29 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of NT$34.7 million, compared with a loss of NT$34.6 million in the prior-year period.

The normalized profit margin fell to negative 4.5% from negative 3.9% in the year-earlier period.

Total revenue fell 14.5% year over year to NT$766.9 million from NT$896.9 million, and total operating expenses declined 15.5% year over year to NT$822.0 million from NT$972.8 million.

Reported net income totaled a loss of NT$2.1 million, or a loss of 2 cents per share, compared to a loss of NT$13.2 million, or a loss of 11 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of NT$1.33 per share, compared with a loss of NT$1.67 per share in the prior year.

Normalized net income was a loss of NT$159.8 million, compared with a loss of NT$198.7 million in the prior year.

Full-year total revenue fell on an annual basis to NT$3.01 billion from NT$3.10 billion, and total operating expenses declined 6.1% on an annual basis to NT$3.22 billion from NT$3.43 billion.

The company said reported net income totaled a loss of NT$187.0 million, or a loss of NT$1.56 per share, in the full year, compared with a loss of NT$266.9 million, or a loss of NT$2.25 per share, the prior year.

As of March 30, US$1 was equivalent to NT$30.31.