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Challenger Technologies Q4 profit climbs 44.1% YOY

Challenger Technologies Ltd. said its normalized net income for the fourth quarter was 2 Singapore cents per share, a gain of 44.4% from 1 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 S$5.6 million, a gain of 44.1% from S$3.9 million in the year-earlier period.

The normalized profit margin climbed to 5.9% from 3.7% in the year-earlier period.

Total revenue declined 8.6% on an annual basis to S$95.6 million from S$104.6 million, and total operating expenses fell 11.5% on an annual basis to S$87.0 million from S$98.4 million.

Reported net income rose 54.5% on an annual basis to S$7.6 million, or 2 cents per share, from S$5.0 million, or 1 cents per share.

For the year, the company's normalized net income totaled 4 cents per share, a gain of 15.3% from 3 cents per share in the prior year.

Normalized net income was S$13.6 million, a gain of 15.3% from S$11.8 million in the prior year.

Full-year total revenue amounted to S$352.2 million, compared with S$355.1 million in the prior year, and total operating expenses decreased on an annual basis to S$331.3 million from S$336.2 million.

The company said reported net income grew 23.5% year over year to S$18.2 million, or 5 cents per share, in the full year, from S$14.8 million, or 4 cents per share.

As of April 13, US$1 was equivalent to S$1.35.