Nan-Yang Dyeing & Finishing Co. Ltd. said its normalized net income for the fourth quarter was 24 Taiwan cents per share, an increase of 53.0% from 16 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 NT$17.4 million, a decline of 14.0% from NT$20.2 million in the prior-year period.

The normalized profit margin declined to 11.3% from 13.6% in the year-earlier period.

Total revenue climbed year over year to NT$154.1 million from NT$148.7 million, and total operating expenses grew year over year to NT$121.6 million from NT$116.9 million.

Reported net income fell 5.7% on an annual basis to NT$25.0 million, or 35 cents per share, from NT$26.5 million, or 21 cents per share.

For the year, the company's normalized net income totaled NT$1.18 per share, a gain of 29.7% from 91 cents per share in the prior year.

Normalized net income was NT$84.6 million, an increase of 8.6% from NT$77.9 million in the prior year.

Full-year total revenue fell from the prior-year period to NT$630.2 million from NT$637.5 million, and total operating expenses fell 5.2% year over year to NT$486.9 million from NT$513.4 million.

The company said reported net income increased 13.1% on an annual basis to NT$117.8 million, or NT$1.64 per share, in the full year, from NT$104.1 million, or NT$1.21 per share.

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