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Honkarakenne Q4 loss narrows YOY

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Honkarakenne Q4 loss narrows YOY

Honkarakenne Oyj said its fourth-quarter normalized net income amounted to a loss of €28,130, compared with a loss of €366,880 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 negative 0.3% from negative 3.2% in the year-earlier period.

Total revenue declined 13.9% on an annual basis to €9.9 million from €11.5 million, and total operating expenses declined 17.7% year over year to €9.9 million from €12.1 million.

Reported net income came to a loss of €112,740, or a loss of 2 cents per share, compared to a loss of €236,000, or a loss of 5 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 19 cents per share, compared with a loss of 35 cents per share in the prior year.

Normalized net income was a loss of €903,130, compared with a loss of €1.7 million in the prior year.

Full-year total revenue decreased 14.1% on an annual basis to €39.1 million from €45.5 million, and total operating expenses declined 16.6% on an annual basis to €39.9 million from €47.9 million.

The company said reported net income totaled a loss of €1.1 million, or a loss of 23 cents per share, in the full year, compared with a loss of €1.9 million, or a loss of 40 cents per share, the prior year.