Li Cheng Enterprise Co. Ltd. said its normalized net income for the fourth quarter came to 81 Taiwan cents per share, an increase of 38.6% from 58 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$115.1 million, a gain of 38.7% from NT$83.0 million in the year-earlier period.

The normalized profit margin dropped to 18.1% from 20.5% in the year-earlier period.

Total revenue rose 56.8% on an annual basis to NT$634.5 million from NT$404.7 million, and total operating expenses grew 57.4% on an annual basis to NT$450.4 million from NT$286.1 million.

Reported net income grew 32.7% from the prior-year period to NT$152.5 million, or NT$1.07 per share, from NT$115.0 million, or 81 cents per share.

For the year, the company's normalized net income totaled NT$3.20 per share, an increase from NT$1.42 per share in the prior year.

Normalized net income was NT$451.5 million, an increase from NT$200.2 million in the prior year.

Full-year total revenue rose 58.4% on an annual basis to NT$2.19 billion from NT$1.38 billion, and total operating expenses increased 37.4% year over year to NT$1.48 billion from NT$1.08 billion.

The company said reported net income increased on an annual basis to NT$607.0 million, or NT$4.31 per share, in the full year, from NT$269.2 million, or NT$1.90 per share.

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