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Microbio swings to profit in Q4

Microbio Co. Ltd. said its normalized net income for the fourth quarter amounted to 5 Taiwan cents per share, compared with a loss of 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$20.5 million, compared with a loss of NT$44.5 million in the year-earlier period.

The normalized profit margin rose to 5.1% from negative 11.1% in the year-earlier period.

Total revenue increased year over year to NT$404.3 million from NT$399.4 million, and total operating expenses decreased from the prior-year period to NT$468.3 million from NT$481.6 million.

Reported net income totaled NT$16.9 million, or 4 cents per share, compared to a loss of NT$12.7 million, or a loss of 3 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 17 cents per share, compared with a loss of 23 cents per share in the prior year.

Normalized net income was a loss of NT$72.8 million, compared with a loss of NT$96.5 million in the prior year.

Full-year total revenue rose 8.5% from the prior-year period to NT$1.52 billion from NT$1.40 billion, and total operating expenses grew year over year to NT$1.86 billion from NT$1.79 billion.

The company said reported net income came to a loss of NT$195.2 million, or a loss of 46 cents per share, in the full year, compared with a loss of NT$139.7 million, or a loss of 33 cents per share, the prior year.

As of March 30, US$1 was equivalent to NT$32.18.