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Castle Group Q4 profit climbs YOY

Castle Group Inc. said its normalized net income for the fourth quarter amounted to 3 cents per share, a decline of 7.5% from 3 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 $323,710, a gain from $315,860 in the prior-year period.

The normalized profit margin climbed to 5.0% from 4.8% in the year-earlier period.

Total revenue decreased year over year to $6.4 million from $6.6 million, and total operating expenses decreased from the prior-year period to $5.9 million from $6.2 million.

Reported net income declined 34.4% year over year to $204,740, or 2 cents per share, from $311,990, or 3 cents per share.

For the year, the company's normalized net income totaled 2 cents per share, a decline of 55.2% from 5 cents per share in the prior year.

Normalized net income was $250,660, a decrease of 55.1% from $558,380 in the prior year.

Full-year total revenue decreased year over year to $24.2 million from $24.5 million, and total operating expenses came to $23.6 million, compared with $23.5 million in the year-earlier period.

The company said reported net income declined 80.0% on an annual basis to $104,220, or 1 cents per share, in the full year, from $519,890, or 5 cents per share.