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Hotel Holiday Garden swings to loss in Q4

Hotel Holiday Garden said its fourth-quarter normalized net income was a loss of 4 Taiwan cents per share, compared with 13 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$4.5 million, compared with income of NT$13.2 million in the year-earlier period.

The normalized profit margin dropped to negative 1.5% from 7.7% in the year-earlier period.

Total revenue grew 76.8% year over year to NT$301.3 million from NT$170.4 million, and total operating expenses rose from the prior-year period to NT$296.2 million from NT$146.8 million.

Reported net income decreased 69.9% on an annual basis to NT$5.4 million, or 5 cents per share, from NT$17.9 million, or 18 cents per share.

For the year, the company's normalized net income totaled 49 cents per share, a decline of 13.4% from 57 cents per share in the prior year.

Normalized net income was NT$50.5 million, a fall of 13.4% from NT$58.3 million in the prior year.

Full-year total revenue grew 23.3% year over year to NT$868.1 million from NT$704.3 million, and total operating expenses rose 27.7% year over year to NT$762.8 million from NT$597.3 million.

The company said reported net income decreased 9.7% year over year to NT$56.8 million, or 55 cents per share, in the full year, from NT$62.8 million, or 61 cents per share.

As of March 25, US$1 was equivalent to NT$32.56.