Chateau International Development Co. Ltd. said its fourth-quarter normalized net income was 10 Taiwan cents per share, a gain of 25.4% from 8 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$10.4 million, a gain of 25.6% from NT$8.3 million in the prior-year period.

The normalized profit margin rose to 6.9% from 6.0% in the year-earlier period.

Total revenue climbed 8.9% year over year to NT$149.5 million from NT$137.3 million, and total operating expenses rose 8.1% on an annual basis to NT$134.6 million from NT$124.4 million.

Reported net income rose 27.8% from the prior-year period to NT$13.4 million, or 12 cents per share, from NT$10.5 million, or 10 cents per share.

For the year, the company's normalized net income totaled NT$1.18 per share, a fall from NT$1.23 per share in the prior year.

Normalized net income was NT$126.9 million, a fall from NT$131.9 million in the prior year.

Full-year total revenue grew from the prior-year period to NT$738.0 million from NT$714.0 million, and total operating expenses increased 6.6% on an annual basis to NT$538.1 million from NT$504.6 million.

The company said reported net income declined 5.5% year over year to NT$162.4 million, or NT$1.51 per share, in the full year, from NT$171.9 million, or NT$1.60 per share.

As of March 1, US$1 was equivalent to NT$33.15.