YaHorng Electronic Co. Ltd. said its normalized net income for the fourth quarter was 28 Taiwan cents per share, a decrease of 37.6% from 45 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$25.2 million, a decrease of 39.4% from NT$41.5 million in the year-earlier period.

The normalized profit margin declined to 3.2% from 4.7% in the year-earlier period.

Total revenue decreased 18.6% year over year to NT$714.9 million from NT$877.9 million, and total operating expenses decreased 17.7% from the prior-year period to NT$693.5 million from NT$842.2 million.

Reported net income fell 44.8% year over year to NT$25.8 million, or 29 cents per share, from NT$46.8 million, or 51 cents per share.

For the year, the company's normalized net income totaled NT$1.80 per share, a gain of 26.3% from NT$1.42 per share in the prior year.

Normalized net income was NT$161.4 million, a gain of 26.3% from NT$127.8 million in the prior year.

Full-year total revenue decreased 12.1% on an annual basis to NT$3.14 billion from NT$3.57 billion, and total operating expenses decreased 13.4% year over year to NT$2.96 billion from NT$3.42 billion.

The company said reported net income grew 28.3% year over year to NT$199.5 million, or NT$2.22 per share, in the full year, from NT$155.4 million, or NT$1.73 per share.

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