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Eminent Luggage Q4 profit falls YOY

Eminent Luggage Corp. said its fourth-quarter normalized net income amounted to 8 Taiwan cents per share, a decrease of 36.0% from 13 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$5.9 million, a decline of 37.1% from NT$9.4 million in the prior-year period.

The normalized profit margin declined to 0.7% from 1.1% in the year-earlier period.

Total revenue totaled NT$850.3 million, compared with NT$852.8 million in the year-earlier period, and total operating expenses decreased year over year to NT$838.1 million from NT$853.3 million.

Reported net income fell 79.7% year over year to NT$2.1 million, or 3 cents per share, from NT$10.3 million, or 14 cents per share.

For the year, the company's normalized net income totaled 77 cents per share, a decrease of 14.7% from 90 cents per share in the prior year.

Normalized net income was NT$54.7 million, a decrease of 15.0% from NT$64.3 million in the prior year.

Full-year total revenue decreased year over year to NT$3.40 billion from NT$3.52 billion, and total operating expenses declined on an annual basis to NT$3.34 billion from NT$3.44 billion.

The company said reported net income declined 24.1% year over year to NT$60.9 million, or 86 cents per share, in the full year, from NT$80.2 million, or NT$1.13 per share.

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