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Nan Tsan Q4 loss narrows YOY

Nan Tsan Co. Ltd. said its normalized net income for the fourth quarter was a loss of 34 Taiwan cents per share, compared with a loss of 57 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 a loss of NT$20.8 million, compared with a loss of NT$33.7 million in the prior-year period.

The normalized profit margin fell to negative 11.5% from negative 8.9% in the year-earlier period.

Total revenue fell 52.4% year over year to NT$180.7 million from NT$379.9 million, and total operating expenses decreased 49.8% from the prior-year period to NT$210.3 million from NT$419.2 million.

Reported net income totaled a loss of NT$93.0 million, or a loss of NT$1.54 per share, compared to a loss of NT$59.6 million, or a loss of NT$1.01 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 81 cents per share, compared with a loss of NT$1.32 per share in the prior year.

Normalized net income was a loss of NT$49.2 million, compared with a loss of NT$77.8 million in the prior year.

Full-year total revenue declined 41.5% from the prior-year period to NT$1.05 billion from NT$1.80 billion, and total operating expenses decreased 40.8% year over year to NT$1.13 billion from NT$1.91 billion.

The company said reported net income came to a loss of NT$119.6 million, or a loss of NT$1.98 per share, in the full year, compared with a loss of NT$208.7 million, or a loss of NT$3.53 per share, the prior year.

As of March 2, US$1 was equivalent to NT$33.09.