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Holiday Entertainment Q4 profit falls YOY

Holiday Entertainment Co. Ltd. said its normalized net income for the fourth quarter was 71 Taiwan cents per share, a decrease of 18.5% from 88 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$105.2 million, a decrease of 18.4% from NT$129.0 million in the prior-year period.

The normalized profit margin dropped to 15.0% from 16.5% in the year-earlier period.

Total revenue declined 10.6% on an annual basis to NT$700.2 million from NT$783.6 million, and total operating expenses declined on an annual basis to NT$596.1 million from NT$611.1 million.

Reported net income fell 15.2% year over year to NT$147.4 million, or 100 cents per share, from NT$173.9 million, or NT$1.18 per share.

For the year, the company's normalized net income totaled NT$4.34 per share, an increase of 32.7% from NT$3.27 per share in the prior year.

Normalized net income was NT$639.2 million, a rise of 32.8% from NT$481.5 million in the prior year.

Full-year total revenue fell year over year to NT$3.08 billion from NT$3.23 billion, and total operating expenses decreased 5.4% on an annual basis to NT$2.46 billion from NT$2.60 billion.

The company said reported net income increased 54.3% on an annual basis to NT$1.00 billion, or NT$6.79 per share, in the full year, from NT$648.3 million, or NT$4.40 per share.

As of March 30, US$1 was equivalent to NT$32.18.