PR Newswire
SHENZHEN, China, Jan. 23, 2017
SHENZHEN, China, Jan. 23, 2017 /PRNewswire/ -- Nam Tai Property Inc. ("Nam Tai" or the "Company") (NYSE Symbol: NTP) today announced its unaudited results for the fourth quarter ended December 31, 2016.
KEY HIGHLIGHTS
(In thousands of US dollars, except per share data, percentages and as otherwise stated)
| Quarterly Results | Twelve months Results | ||||
| Q4 2016 | Q4 2015 | YoY(%)(c) | 12M 2016 | 12M 2015 | YoY(%)(c) |
Operation income | $603 | $673 | (10) | $2,508 | $2,978 | (16) |
Net operation income | $603 | $209 | 189 | $1,768 | $1,029 | 72 |
% of operation income | 100.0% | 31.1% | | 70.5% | 34.6% | |
Operating loss | $(1,415) | $(4,696) | - | $(6,591) | $(12,833) | - |
% of operation income | (234.7%) | (697.8%) | | (262.8%) | (430.9%) | |
per share (diluted) | $(0.04) | $(0.13) | - | $(0.18) | $(0.32) | - |
Net loss (a) (b) | $(5,235) | $(4,999) | - | $(9,534) | $(13,158) | - |
% of operation income | (868.2%) | (742.8%) | | (380.1%) | (441.8%) | |
Basic loss per share | $(0.14) | $(0.14) | - | $(0.26) | $(0.32) | - |
Diluted loss per share | $(0.14) | $(0.14) | - | $(0.26) | $(0.32) | - |
Weighted average number of shares ('000) | | | | | | |
Basic | 36,647 | 36,700 | | 36,673 | 40,549 | |
Diluted | 36,647 | 36,700 | | 36,673 | 40,549 | |
Notes: (a) Net loss for the three months ended December 31, 2016 mainly included exchange loss of $5.2 million as a result of the depreciation of Renminbi against US dollars in Q4 2016 and general and administrative expenses of $2.0 million, but partly offset by the interest income of $1.4 million earned from time deposits and net operation income of $0.6 million, further details can be found in the Operating Results section on page 2. (b) Net loss for the twelve months ended December 31, 2016 mainly included the general and administrative expenses of $8.4 million and exchange loss of $8.3 million as a result of the depreciation of Renminbi against US dollars during the twelve months ended December 31, 2016, but partly offset by the interest income of $5.6 million earned from time deposits and net operation income of $1.8 million, further details can be found in the Operating Results section on page 2. (c) Percentage change is not applicable if either of the two periods contains a loss. (d) The Board of the Company approved an increase in the annual dividend of 2017 to $0.28 ($0.07× 4 quarters) from $0.08 ($0.02 × 4 quarters) of 2016 per outstanding share of the Company's common stock, effective from the first quarter of 2017. As shown on the balance sheet of December 31, 2016, the 2017 dividend of approximately $10.2 million had been accrued. (e) Capitalization on project investment was $1.3 million for Q4 2016, totaled $6.1 million for the twelve months ended December 31 2016, and our accumulated project investment was $37.8 million up to December 31, 2016, which was recorded under the account of real estate properties under development in the balance sheet as at December 31, 2016. (f) This information has been published on the Company's website http://www.namtai.com/investors#investors/quarterly_earnings under the quarterly earnings report of Q4 2016 on page 7, Condensed Consolidated Statements of Comprehensive Income. |
SUPPLEMENTARY INFORMATION (UNAUDITED) IN THE FOURTH QUARTER OF 2016
Key Highlights of Financial Position
| As at December 31, 2016 | As at December 31, 2015 |
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