Gordon Auto Body Parts Co. Ltd. said its normalized net income for the fourth quarter was 26 Taiwan cents per share, an increase from 2 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$46.6 million, an increase from NT$3.6 million in the prior-year period.

The normalized profit margin rose to 7.2% from 0.5% in the year-earlier period.

Total revenue totaled NT$686.6 million, compared with NT$681.4 million in the year-earlier period, and total operating expenses decreased 12.3% year over year to NT$600.9 million from NT$685.5 million.

Reported net income increased on an annual basis to NT$64.7 million, or 36 cents per share, from NT$3.9 million, or 2 cents per share.

For the year, the company's normalized net income totaled 41 cents per share, a gain from 1 cents per share in the prior year.

Normalized net income was NT$72.9 million, a rise from NT$2.1 million in the prior year.

Full-year total revenue amounted to NT$2.49 billion, compared with NT$2.47 billion in the prior year, and total operating expenses fell 5.1% year over year to NT$2.33 billion from NT$2.46 billion.

The company said reported net income came to a loss of NT$190.5 million, or a loss of NT$1.06 per share, in the full year, compared with income of NT$5.9 million, or 3 cents per share, the prior year.

As of March 28, US$1 was equivalent to NT$32.62.