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Kang Na Hsiung Enterprise Q4 profit falls YOY

Kang Na Hsiung Enterprise Co. Ltd. said its fourth-quarter normalized net income amounted to 7 Taiwan cents per share, a decrease of 12.8% from 9 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$14.6 million, a decline of 13.6% from NT$17.0 million in the year-earlier period.

The normalized profit margin dropped to 1.2% from 1.7% in the year-earlier period.

Total revenue grew 19.0% year over year to NT$1.20 billion from NT$1.00 billion, and total operating expenses climbed 13.7% year over year to NT$1.17 billion from NT$1.03 billion.

Reported net income decreased 38.8% on an annual basis to NT$15.7 million, or 8 cents per share, from NT$25.7 million, or 13 cents per share.

For the year, the company's normalized net income totaled 23 cents per share, an increase of 11.1% from 21 cents per share in the prior year.

Normalized net income was NT$45.8 million, a rise of 10.8% from NT$41.3 million in the prior year.

Full-year total revenue rose from the prior-year period to NT$4.48 billion from NT$4.36 billion, and total operating expenses rose on an annual basis to NT$4.46 billion from NT$4.40 billion.

The company said reported net income decreased 30.2% year over year to NT$41.3 million, or 21 cents per share, in the full year, from NT$59.2 million, or 30 cents per share.

As of March 1, US$1 was equivalent to NT$33.15.