Fieratex SA said its normalized net income for the fourth quarter was a loss of €283,350, compared with a loss of €73,920 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 4.0% from negative 1.1% in the year-earlier period.

Total revenue grew 5.1% on an annual basis to €7.0 million from €6.7 million, and total operating expenses rose 10.6% on an annual basis to €7.4 million from €6.7 million.

Reported net income totaled a loss of €525,960, or a loss of 5 cents per share, compared to a loss of €33,380, or a loss of 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 4 cents per share, compared with a loss of 6 cents per share in the prior year.

Normalized net income was a loss of €435,090, compared with a loss of €615,740 in the prior year.

Full-year total revenue increased on an annual basis to €26.0 million from €24.8 million, and total operating expenses increased on an annual basis to €26.3 million from €25.3 million.

The company said reported net income came to a loss of €1.1 million, or a loss of 10 cents per share, in the full year, compared with a loss of €675,360, or a loss of 7 cents per share, the prior year.