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New Palace International Q4 profit climbs YOY

New Palace International Co. Ltd. said its fourth-quarter normalized net income amounted to 56 Taiwan cents per share, a gain from 27 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$45.4 million, an increase from NT$18.5 million in the prior-year period.

The normalized profit margin climbed to 8.8% from 4.1% in the year-earlier period.

Total revenue grew 14.9% year over year to NT$512.8 million from NT$446.5 million, and total operating expenses increased 6.6% year over year to NT$442.8 million from NT$415.4 million.

Reported net income increased from the prior-year period to NT$56.8 million, or 70 cents per share, from NT$24.8 million, or 37 cents per share.

For the year, the company's normalized net income totaled 32 cents per share, compared with a loss of 36 cents per share in the prior year.

Normalized net income was NT$22.3 million, compared with a loss of NT$24.2 million in the prior year.

Full-year total revenue increased year over year to NT$1.65 billion from NT$1.57 billion, and total operating expenses totaled NT$1.65 billion, compared with NT$1.64 billion in the prior-year period.

The company said reported net income totaled NT$7.1 million, or 10 cents per share, in the full year, compared with a loss of NT$78.4 million, or a loss of NT$1.16 per share, the prior year.

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