Chunghwa Telecom Announces Un-Audited 2005 Operating Results.TAIPEI, Taiwan -- Chunghwa Telecom Co., Ltd. ("CHT CHT Chart CHT Center for Health Transformation (Washington, DC) CHT Chittagong Hill Tracts (Bangladesh region) CHT Certified Hypnotherapist CHT Cylinder Head Temperature CHT Certified Hand Therapist ", TAIEX TAIEX Technical Assistance Information Exchange Office (EU) TAIEX Technical Assistance Information Service : 2412, NYSE NYSE See: New York Stock Exchange : CHT) announced its un-audited operating results for the year 2005 today. Total revenue for 2005, based on ROC GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). , reached NT$183.4 billion, a 0.4% increase compared to NT$182.6 billion in 2004 while operating costs and expenses increased 3.1% to NT$126.7 billion from NT$122.9 billion. Net income decreased 7.3% to NT$46.2 billion from NT$49.9 billion and EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. decreased 7.3% to NT$4.79. Operating costs and expenses for the fourth quarter 2005 were NT$36.35 billion, NT$3.02 billion higher than the fourth quarter of 2004. This is mainly due to an increase of NT$3.26 billion in personnel cost related to the privatization. This amount covers NT$1.35 billion for performance-based bonuses designed to motivate employees post-privatization and NT$1.91 billion for performance related accumulated payments for employees according to the regulations related to evaluation of employees working in the enterprises of Ministry of Transportation and Communications (MOTC MOTC Ministry of Transportation and Communication (Taiwan) MOTC Masters of the Cage (wrestling) MOTC Military Operations Training Course MOTC Montreal Tramways MOTC Monthly and One Time Charge ).(Note) Said employees performance related payments are non-recurrent and were partially offset by a decrease of NT$830 million in pension provisions. About Chunghwa Telecom Chunghwa Telecom is the leading telecom service provider in Taiwan. Chunghwa Telecom provides fixed line services, mobile services and Internet and data services to residential and business customers in Taiwan. (Note) Regulations covering employees working in the enterprises of MOTC require an evaluation process to be conducted with scoring on a yearly basis. Scores in excess of 70 are accumulated. Salary increases were made based on accumulated scores of 70 or higher. Due to the privatization of Chunghwa Telecom on August 12th, 2005, accumulated scores of employees till August 11th, 2005 were converted in the form of lump-sum payments as mentioned. |
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