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Mobiletron Electronics Q4 profit falls YOY

Mobiletron Electronics Co. Ltd. said its fourth-quarter normalized net income amounted to 41 Taiwan cents per share, a decline of 32.3% from 60 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 NT$40.1 million, a decline of 32.1% from NT$59.1 million in the prior-year period.

The normalized profit margin declined to 6.6% from 9.0% in the year-earlier period.

Total revenue fell 7.3% year over year to NT$605.0 million from NT$652.8 million, and total operating expenses decreased 8.0% from the prior-year period to NT$538.3 million from NT$585.4 million.

Reported net income declined 31.0% from the prior-year period to NT$39.9 million, or 40 cents per share, from NT$57.9 million, or 59 cents per share.

For the year, the company's normalized net income totaled NT$1.55 per share, a decrease of 25.1% from NT$2.07 per share in the prior year.

Normalized net income was NT$152.7 million, a fall of 25.1% from NT$203.9 million in the prior year.

Full-year total revenue fell 7.5% year over year to NT$2.46 billion from NT$2.66 billion, and total operating expenses fell year over year to NT$2.23 billion from NT$2.35 billion.

The company said reported net income decreased 28.7% year over year to NT$162.3 million, or NT$1.64 per share, in the full year, from NT$227.8 million, or NT$2.31 per share.

As of March 28, US$1 was equivalent to NT$32.62.