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TYC Brother Industrial Q4 profit climbs 12.4% YOY

TYC Brother Industrial Co. Ltd. said its normalized net income for the fourth quarter was 50 Taiwan cents per share, a gain of 12.5% from 44 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$155.8 million, an increase of 12.4% from NT$138.6 million in the prior-year period.

The normalized profit margin climbed to 4.1% from 3.8% in the year-earlier period.

Total revenue grew on an annual basis to NT$3.81 billion from NT$3.64 billion, and total operating expenses grew from the prior-year period to NT$3.60 billion from NT$3.53 billion.

Reported net income rose 25.0% on an annual basis to NT$234.4 million, or 75 cents per share, from NT$187.5 million, or 60 cents per share.

For the year, the company's normalized net income totaled NT$1.89 per share, an increase of 79.9% from NT$1.05 per share in the prior year.

Normalized net income was NT$589.7 million, a rise of 80.0% from NT$327.7 million in the prior year.

Full-year total revenue increased 7.8% year over year to NT$15.05 billion from NT$13.96 billion, and total operating expenses rose on an annual basis to NT$14.21 billion from NT$13.61 billion.

The company said reported net income rose 48.2% year over year to NT$759.0 million, or NT$2.43 per share, in the full year, from NT$512.0 million, or NT$1.64 per share.

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