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Power Wind Health Q4 profit climbs 79.0% YOY

Power Wind Health Industry Inc. said its fourth-quarter normalized net income was 55 Taiwan cents per share, an increase of 65.3% from 33 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$23.1 million, a gain of 79.0% from NT$12.9 million in the year-earlier period.

The normalized profit margin climbed to 6.9% from 5.4% in the year-earlier period.

Total revenue increased 41.5% year over year to NT$337.6 million from NT$238.6 million, and total operating expenses rose 36.6% from the prior-year period to NT$302.1 million from NT$221.1 million.

Reported net income grew 63.7% year over year to NT$30.8 million, or 73 cents per share, from NT$18.8 million, or 48 cents per share.

For the year, the company's normalized net income totaled NT$2.29 per share, a gain of 35.9% from NT$1.69 per share in the prior year.

Normalized net income was NT$96.9 million, a gain of 48.4% from NT$65.3 million in the prior year.

Full-year total revenue rose 46.9% year over year to NT$1.21 billion from NT$822.6 million, and total operating expenses increased 45.8% on an annual basis to NT$1.06 billion from NT$726.8 million.

The company said reported net income grew 47.7% on an annual basis to NT$130.1 million, or NT$3.08 per share, in the full year, from NT$88.1 million, or NT$2.27 per share.

As of March 3, US$1 was equivalent to NT$32.91.