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Star Comgistic Capital Q4 profit climbs YOY

Star Comgistic Capital Co. Ltd. said its fourth-quarter normalized net income amounted to 39 Taiwan cents per share, an increase from 15 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$51.8 million, an increase from NT$19.7 million in the year-earlier period.

The normalized profit margin increased to 1.8% from 0.6% in the year-earlier period.

Total revenue fell 8.8% year over year to NT$2.95 billion from NT$3.23 billion, and total operating expenses fell 9.5% from the prior-year period to NT$3.01 billion from NT$3.33 billion.

Reported net income totaled a loss of NT$18.9 million, or a loss of 14 cents per share, compared to a loss of NT$26.9 million, or a loss of 20 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 74 cents per share, compared with a loss of 2 cents per share in the prior year.

Normalized net income was NT$99.8 million, compared with a loss of NT$2.5 million in the prior year.

Full-year total revenue fell 10.3% on an annual basis to NT$12.26 billion from NT$13.66 billion, and total operating expenses declined 10.9% year over year to NT$12.30 billion from NT$13.81 billion.

The company said reported net income came to NT$44.3 million, or 33 cents per share, in the full year, compared with a loss of NT$81.9 million, or a loss of 61 cents per share, the prior year.

As of March 31, US$1 was equivalent to NT$30.34.