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Coaster International swings to profit in Q4

Coaster International Co. Ltd. said its fourth-quarter normalized net income was 84 Taiwan cents per share, compared with a loss of 39 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$58.7 million, compared with a loss of NT$7.9 million in the prior-year period.

The normalized profit margin rose to 1.9% from negative 0.3% in the year-earlier period.

Total revenue climbed 13.5% year over year to NT$3.11 billion from NT$2.74 billion, and total operating expenses grew 9.6% year over year to NT$3.01 billion from NT$2.74 billion.

Reported net income came to NT$66.5 million, or 96 cents per share, compared to a loss of NT$13.1 million, or a loss of 65 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled NT$2.70 per share, a decline of 66.0% from NT$7.95 per share in the prior year.

Normalized net income was NT$181.7 million, a rise of 13.8% from NT$159.7 million in the prior year.

Full-year total revenue rose 8.3% from the prior-year period to NT$11.66 billion from NT$10.76 billion, and total operating expenses rose 8.1% year over year to NT$11.33 billion from NT$10.48 billion.

The company said reported net income rose 8.5% year over year to NT$177.5 million, or NT$2.64 per share, in the full year, from NT$163.5 million, or NT$8.14 per share.

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