Thai Wacoal Public Company Ltd said its fourth-quarter normalized net income came to 39 satang per share, an increase of 12.4% from 35 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 46.8 million baht, a gain of 12.4% from 41.6 million baht in the prior-year period.

The normalized profit margin climbed to 4.5% from 4.2% in the year-earlier period.

Total revenue climbed on an annual basis to 1.04 billion baht from 995.7 million baht, and total operating expenses climbed year over year to 992.6 million baht from 962.6 million baht.

Reported net income grew 15.1% from the prior-year period to 71.3 million baht, or 59 satang per share, from 61.9 million baht, or 52 satang per share.

For the year, the company's normalized net income totaled 1.81 baht per share, a decrease of 8.4% from 1.97 baht per share in the prior year.

Normalized net income was 217.0 million baht, a fall of 8.4% from 236.8 million baht in the prior year.

Full-year total revenue increased year over year to 4.14 billion baht from 3.97 billion baht, and total operating expenses increased 5.1% on an annual basis to 3.95 billion baht from 3.75 billion baht.

The company said reported net income fell 7.0% on an annual basis to 311.0 million baht, or 2.59 baht per share, in the full year, from 334.4 million baht, or 2.79 baht per share.

As of Feb. 28, US$1 was equivalent to 34.86 baht.