Maywufa Co. Ltd. said its normalized net income for the fourth quarter amounted to 13 Taiwan cents per share, an increase of 43.4% from 9 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$16.9 million, an increase of 43.0% from NT$11.8 million in the prior-year period.

The normalized profit margin rose to 4.9% from 3.7% in the year-earlier period.

Total revenue increased 8.2% on an annual basis to NT$347.1 million from NT$320.7 million, and total operating expenses climbed 7.4% year over year to NT$312.0 million from NT$290.6 million.

Reported net income rose 53.6% from the prior-year period to NT$22.7 million, or 17 cents per share, from NT$14.8 million, or 11 cents per share.

For the year, the company's normalized net income totaled 43 cents per share, an increase from 17 cents per share in the prior year.

Normalized net income was NT$56.7 million, a gain from NT$22.7 million in the prior year.

Full-year total revenue grew 11.1% on an annual basis to NT$1.37 billion from NT$1.23 billion, and total operating expenses grew 8.6% on an annual basis to NT$1.26 billion from NT$1.16 billion.

The company said reported net income decreased year over year to NT$78.6 million, or 59 cents per share, in the full year, from NT$80.0 million, or 60 cents per share.

As of Feb. 26, US$1 was equivalent to NT$33.28.