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Pacific Online Systems Q4 profit falls YOY

Pacific Online Systems Corp. said its normalized net income for the fourth quarter amounted to 19 Philippine centavos per share, a decrease of 13.5% from 22 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 88.2 million pesos, a decrease of 5.0% from 92.8 million pesos in the prior-year period.

The normalized profit margin rose to 19.7% from 19.5% in the year-earlier period.

Total revenue decreased 5.9% year over year to 447.5 million pesos from 475.5 million pesos, and total operating expenses totaled 301.0 million pesos, compared with 299.8 million pesos in the prior-year period.

Reported net income came to 135.5 million pesos, or 29 centavos per share, compared to a loss of 73.5 million pesos, or a loss of 17 centavos per share, in the year-earlier period.

For the year, the company's normalized net income totaled 78 centavos per share, a decrease from 79 centavos per share in the prior year.

Normalized net income was 340.8 million pesos, an increase from 336.4 million pesos in the prior year.

Full-year total revenue amounted to 1.72 billion pesos, compared with 1.73 billion pesos in the prior year, and total operating expenses came to 1.21 billion pesos, compared with 1.22 billion pesos in the prior-year period.

The company said reported net income declined 6.5% on an annual basis to 343.2 million pesos, or 78 centavos per share, in the full year, from 366.9 million pesos, or 86 centavos per share.

As of April 14, US$1 was equivalent to 46.12 Philippine pesos.