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TV Direct swings to profit in Q4

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TV Direct swings to profit in Q4

TV Direct PCL said its fourth-quarter normalized net income was 1 satang per share, compared with a loss of 5 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.5 million baht, compared with a loss of 29.8 million baht in the prior-year period.

The normalized profit margin rose to 0.7% from negative 4.6% in the year-earlier period.

Total revenue increased 48.5% year over year to 957.4 million baht from 644.7 million baht, and total operating expenses grew 33.3% year over year to 925.3 million baht from 694.1 million baht.

Reported net income came to 10.3 million baht, or 2 satang per share, compared to a loss of 39.5 million baht, or a loss of 6 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled 48.0 million baht, compared with a loss of -479,840 baht in the prior year.

Full-year total revenue rose 19.2% year over year to 3.04 billion baht from 2.55 billion baht, and total operating expenses grew 19.9% on an annual basis to 3.06 billion baht from 2.55 billion baht.

The company said reported net income totaled a loss of 40.6 million baht, or a loss of 6 satang per share, in the full year, compared with a loss of 10.7 million baht, or a loss of 2 satang per share, the prior year.

As of Feb. 25, US$1 was equivalent to 35.66 baht.