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I Yuan Precision Q4 profit falls YOY

I Yuan Precision Industrial Co. Ltd. said its normalized net income for the fourth quarter amounted to 100 Taiwan cents per share, a decrease of 11.9% from NT$1.13 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$31.9 million, a decline from NT$32.8 million in the year-earlier period.

The normalized profit margin declined to 14.8% from 15.5% in the year-earlier period.

Total revenue climbed on an annual basis to NT$215.8 million from NT$211.2 million, and total operating expenses fell from the prior-year period to NT$169.3 million from NT$172.0 million.

Reported net income fell from the prior-year period to NT$43.4 million, or NT$1.36 per share, from NT$44.6 million, or NT$1.54 per share.

For the year, the company's normalized net income totaled NT$4.50 per share, an increase of 8.0% from NT$4.17 per share in the prior year.

Normalized net income was NT$143.6 million, a rise of 22.4% from NT$117.3 million in the prior year.

Full-year total revenue increased year over year to NT$874.9 million from NT$845.7 million, and total operating expenses fell on an annual basis to NT$672.9 million from NT$684.1 million.

The company said reported net income rose 29.8% on an annual basis to NT$198.4 million, or NT$6.22 per share, in the full year, from NT$152.9 million, or NT$5.43 per share.

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