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TYC Brother Industrial profit misses consensus by 48.6% in Q4

TYC Brother Industrial Co. Ltd. said its fourth-quarter normalized net income was 46 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 89 cents per share.

EPS fell 8.3% year over year from 50 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$142.8 million, a decrease of 8.3% from NT$155.8 million in the prior-year period.

The normalized profit margin declined to 3.6% from 4.1% in the year-earlier period.

Total revenue grew on an annual basis to NT$3.99 billion from NT$3.81 billion, and total operating expenses rose 6.7% from the prior-year period to NT$3.84 billion from NT$3.60 billion.

Reported net income came to NT$234.3 million, or 75 cents per share, compared to NT$234.4 million, or 75 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled NT$2.39 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$3.30.

EPS rose 26.7% from NT$1.89 in the prior year.

Normalized net income was NT$747.7 million, an increase of 26.8% from NT$589.7 million in the prior year.

Full-year total revenue increased 6.1% from the prior-year period to NT$15.96 billion from NT$15.05 billion, and total operating expenses increased on an annual basis to NT$14.91 billion from NT$14.21 billion.

The company said reported net income increased 30.1% year over year to NT$987.4 million, or NT$3.16 per share, in the full year, from NT$759.0 million, or NT$2.43 per share.

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