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Keysheen Q4 profit falls YOY

Keysheen (Cayman) Holdings Co. Ltd. said its normalized net income for the fourth quarter amounted to NT$1.54 per share, a decline of 17.4% from NT$1.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$157.8 million, a decrease of 20.3% from NT$198.0 million in the prior-year period.

The normalized profit margin dropped to 7.5% from 9.3% in the year-earlier period.

Total revenue fell on an annual basis to NT$2.09 billion from NT$2.14 billion, and total operating expenses declined year over year to NT$1.77 billion from NT$1.82 billion.

Reported net income decreased 34.2% year over year to NT$145.0 million, or NT$1.41 per share, from NT$220.1 million, or NT$2.07 per share.

For the year, the company's normalized net income totaled NT$4.19 per share, compared with a loss of 5 cents per share in the prior year.

Normalized net income was NT$442.1 million, compared with a loss of NT$5.6 million in the prior year.

Full-year total revenue decreased 8.5% year over year to NT$5.88 billion from NT$6.43 billion, and total operating expenses fell 14.9% year over year to NT$5.32 billion from NT$6.25 billion.

The company said reported net income totaled NT$452.1 million, or NT$4.28 per share, in the full year, compared with a loss of NT$19.3 million, or a loss of 18 cents per share, the prior year.

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