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Com7 Q4 profit climbs 23.6% YOY

Com7 Public Company Ltd said its normalized net income for the fourth quarter came to 7 satang per share, compared with 7 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79.7 million baht, a gain of 23.6% from 64.5 million baht in the prior-year period.

The normalized profit margin rose to 1.8% from 1.6% in the year-earlier period.

Total revenue climbed 11.5% on an annual basis to 4.38 billion baht from 3.92 billion baht, and total operating expenses climbed 11.5% on an annual basis to 4.25 billion baht from 3.81 billion baht.

Reported net income grew 35.0% on an annual basis to 105.4 million baht, or 9 satang per share, from 78.1 million baht, or 8 satang per share.

For the year, the company's normalized net income totaled 21 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 23 satang.

EPS rose 12.3% from 19 satang in the prior year.

Normalized net income was 216.8 million baht, an increase of 27.1% from 170.6 million baht in the prior year.

Full-year total revenue rose 6.3% year over year to 14.99 billion baht from 14.10 billion baht, and total operating expenses increased 5.9% year over year to 14.61 billion baht from 13.80 billion baht.

The company said reported net income grew 28.0% year over year to 268.5 million baht, or 26 satang per share, in the full year, from 209.7 million baht, or 23 satang per share.

As of Feb. 24, US$1 was equivalent to 35.69 baht.