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Honmyue Enterprise Q4 profit falls YOY

Honmyue Enterprise Co. Ltd. said its fourth-quarter normalized net income came to 6 Taiwan cents per share, a decline of 69.6% from 21 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$8.4 million, a decrease of 69.6% from NT$27.6 million in the year-earlier period.

The normalized profit margin declined to 0.9% from 2.8% in the year-earlier period.

Total revenue fell 6.4% year over year to NT$914.0 million from NT$976.3 million, and total operating expenses decreased 5.3% year over year to NT$911.2 million from NT$961.8 million.

Reported net income fell 73.0% on an annual basis to NT$9.2 million, or 7 cents per share, from NT$33.9 million, or 25 cents per share.

For the year, the company's normalized net income totaled 52 cents per share, an increase of 51.5% from 34 cents per share in the prior year.

Normalized net income was NT$67.5 million, an increase of 51.7% from NT$44.5 million in the prior year.

Full-year total revenue amounted to NT$3.50 billion, compared with NT$3.53 billion in the prior year, and total operating expenses decreased on an annual basis to NT$3.41 billion from NT$3.50 billion.

The company said reported net income rose 59.3% on an annual basis to NT$91.3 million, or 70 cents per share, in the full year, from NT$57.3 million, or 44 cents per share.

As of March 25, US$1 was equivalent to NT$32.56.