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Hiroca Holdings Q4 profit climbs YOY

Hiroca Holdings Ltd. said its normalized net income for the fourth quarter came to NT$2.18 per share, compared with the S&P Capital IQ consensus estimate of NT$2.47 per share.

EPS increased year over year from NT$2.14.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$183.3 million, a gain from NT$181.3 million in the year-earlier period.

The normalized profit margin rose to 8.2% from 7.8% in the year-earlier period.

Total revenue declined year over year to NT$2.24 billion from NT$2.31 billion, and total operating expenses declined on an annual basis to NT$1.97 billion from NT$2.03 billion.

Reported net income increased 7.6% from the prior-year period to NT$205.9 million, or NT$2.45 per share, from NT$191.2 million, or NT$2.25 per share.

For the year, the company's normalized net income totaled NT$7.56 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$9.04.

EPS rose 7.9% from NT$7.00 in the prior year.

Normalized net income was NT$635.2 million, a gain of 11.2% from NT$571.0 million in the prior year.

Full-year total revenue decreased from the prior-year period to NT$8.27 billion from NT$8.40 billion, and total operating expenses fell on an annual basis to NT$7.35 billion from NT$7.50 billion.

The company said reported net income grew 19.8% year over year to NT$758.2 million, or NT$9.02 per share, in the full year, from NT$632.7 million, or NT$7.76 per share.

As of March 24, US$1 was equivalent to NT$32.51.