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Iron Force Industrial Q4 profit climbs 58.2% YOY

Iron Force Industrial Co. Ltd. said its fourth-quarter normalized net income was NT$1.79 per share, compared with the S&P Capital IQ consensus estimate of NT$1.96 per share.

EPS increased 45.2% year over year from NT$1.23.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$139.9 million, an increase of 58.2% from NT$88.5 million in the year-earlier period.

The normalized profit margin increased to 13.9% from 10.7% in the year-earlier period.

Total revenue grew 21.4% year over year to NT$1.00 billion from NT$826.4 million, and total operating expenses climbed 14.5% from the prior-year period to NT$800.3 million from NT$699.1 million.

Reported net income grew 41.0% year over year to NT$173.1 million, or NT$2.21 per share, from NT$122.8 million, or NT$1.71 per share.

For the year, the company's normalized net income totaled NT$6.99 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$7.93.

EPS rose 28.6% from NT$5.44 in the prior year.

Normalized net income was NT$515.1 million, an increase of 32.0% from NT$390.2 million in the prior year.

Full-year total revenue increased 12.5% year over year to NT$3.94 billion from NT$3.51 billion, and total operating expenses grew 10.3% on an annual basis to NT$3.24 billion from NT$2.94 billion.

The company said reported net income grew 27.9% year over year to NT$622.2 million, or NT$8.44 per share, in the full year, from NT$486.6 million, or NT$6.78 per share.

As of March 24, US$1 was equivalent to NT$32.51.