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Oceanic Beverages Q4 loss widens YOY

Oceanic Beverages Co. Inc. said its normalized net income for the fourth quarter came to a loss of 17 Taiwan cents per share, compared with a loss of 9 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$9.8 million, compared with a loss of NT$4.9 million in the prior-year period.

The normalized profit margin declined to negative 7.3% from negative 3.6% in the year-earlier period.

Total revenue came to NT$134.4 million, compared with NT$134.4 million in the year-earlier period, and total operating expenses increased year over year to NT$145.7 million from NT$141.2 million.

Reported net income totaled a loss of NT$13.1 million, or a loss of 23 cents per share, compared to a loss of NT$6.8 million, or a loss of 12 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 24 cents per share, a gain of 29.8% from 18 cents per share in the prior year.

Normalized net income was NT$13.4 million, an increase of 29.8% from NT$10.3 million in the prior year.

Full-year total revenue increased on an annual basis to NT$736.5 million from NT$702.1 million, and total operating expenses rose year over year to NT$716.8 million from NT$689.7 million.

The company said reported net income increased 43.5% year over year to NT$16.5 million, or 29 cents per share, in the full year, from NT$11.5 million, or 20 cents per share.

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