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Singtex Industrial swings to profit in Q4

Singtex Industrial Co. Ltd. said its fourth-quarter normalized net income was NT$11.2 million, compared with a loss of NT$131,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.0% from negative 0.0% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to NT$378.8 million from NT$351.2 million, and total operating expenses came to NT$360.4 million, compared with NT$356.9 million in the prior-year period.

Reported net income totaled NT$13.6 million, or 44 cents per share, compared to a loss of NT$2.7 million, or a loss of 10 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 100 cents per share, a fall of 22.0% from NT$1.28 per share in the prior year.

Normalized net income was NT$30.1 million, a decline of 11.2% from NT$33.9 million in the prior year.

Full-year total revenue rose 6.3% from the prior-year period to NT$1.48 billion from NT$1.39 billion, and total operating expenses rose 6.2% year over year to NT$1.44 billion from NT$1.36 billion.

The company said reported net income increased year over year to NT$69.9 million, or NT$2.32 per share, in the full year, from NT$34.4 million, or NT$1.30 per share.

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