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Dswiss Q4 loss widens 39.2% YOY

DSwiss Inc. said its normalized net income for the fourth quarter amounted to a loss of $21,160, compared with a loss of $15,200 in the prior-year period.

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

The normalized profit margin climbed to negative 33.7% from negative 81.7% in the year-earlier period.

Total revenue rose on an annual basis to $62,870 from $18,600, and total operating expenses climbed from the prior-year period to $96,770 from $42,920.

Reported net income came to a loss of $33,830, or a loss of 0 cents per share, compared to a loss of $24,750 in the prior-year period.

For the year, the company's normalized net income totaled $80,830, compared with income of $11,040 in the prior year.

Full-year total revenue declined 66.2% year over year to $154,970 from $458,290, and total operating expenses fell 35.5% year over year to $284,390 from $440,630.

The company said reported net income totaled a loss of $129,290, or a loss of 0 cents per share, in the full year, compared with income of $17,240 the prior year.