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Shinih Enterprise swings to profit in Q4

Shinih Enterprise Co. Ltd. said its normalized net income for the fourth quarter came to 5 Taiwan cents per share, compared with a loss of 21 cents 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$5.2 million, compared with a loss of NT$22.7 million in the year-earlier period.

The normalized profit margin rose to 0.6% from negative 2.6% in the year-earlier period.

Total revenue fell on an annual basis to NT$843.1 million from NT$875.8 million, and total operating expenses decreased 5.9% year over year to NT$841.0 million from NT$893.7 million.

Reported net income totaled a loss of NT$12.1 million, or a loss of 12 cents per share, compared to a loss of NT$32.5 million, or a loss of 31 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 77 cents per share, compared with 77 cents per share in the prior year.

Normalized net income was NT$89.2 million, a rise from NT$88.3 million in the prior year.

Full-year total revenue decreased 8.4% on an annual basis to NT$3.53 billion from NT$3.86 billion, and total operating expenses decreased 9.5% year over year to NT$3.35 billion from NT$3.70 billion.

The company said reported net income rose 8.7% year over year to NT$76.5 million, or 66 cents per share, in the full year, from NT$70.3 million, or 61 cents per share.

As of March 29, US$1 was equivalent to NT$30.25.