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Carnival Industrial Q4 loss narrows YOY

Carnival Industrial Corp. said its fourth-quarter normalized net income amounted to a loss of 8 Taiwan cents per share, compared with a loss of 24 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$32.3 million, compared with a loss of NT$90.1 million in the year-earlier period.

The normalized profit margin rose to negative 4.7% from negative 9.8% in the year-earlier period.

Total revenue fell 25.6% on an annual basis to NT$682.6 million from NT$917.1 million, and total operating expenses declined 30.0% from the prior-year period to NT$745.4 million from NT$1.06 billion.

Reported net income came to a loss of NT$55.2 million, or a loss of 15 cents per share, compared to a loss of NT$72.1 million, or a loss of 19 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 55 cents per share, compared with a loss of 74 cents per share in the prior year.

Normalized net income was a loss of NT$209.9 million, compared with a loss of NT$280.4 million in the prior year.

Full-year total revenue decreased 16.4% from the prior-year period to NT$2.97 billion from NT$3.55 billion, and total operating expenses fell 17.2% year over year to NT$3.36 billion from NT$4.06 billion.

The company said reported net income totaled a loss of NT$171.0 million, or a loss of 45 cents per share, in the full year, compared with a loss of NT$384.6 million, or a loss of NT$1.01 per share, the prior year.

As of March 31, US$1 was equivalent to NT$30.34.