Rokiskio Suris AB said its fourth-quarter normalized net income was €1.4 million, a rise from €66,250 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 2.7% from 0.1% in the year-earlier period.
Total revenue declined 12.9% on an annual basis to €50.7 million from €58.2 million, and total operating expenses fell 17.0% from the prior-year period to €49.0 million from €59.1 million.
Reported net income totaled €2.3 million, or 8 cents per share, compared to a loss of €9,000, or a loss of 0 cents per share, in the prior-year period.
For the year, the company's normalized net income totaled €2.6 million, a rise from €21,250 in the prior year.
Full-year total revenue decreased 21.2% on an annual basis to €196.5 million from €249.3 million, and total operating expenses decreased 22.8% on an annual basis to €192.8 million from €249.8 million.
The company said reported net income came to €3.9 million, or 11 cents per share, in the full year, compared with a loss of €383,000, or a loss of 1 cents per share, the prior year.