ABR Holdings Ltd. said its fourth-quarter normalized net income came to S$638,250, a fall of 57.0% from S$1.5 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 2.5% from 5.4% in the year-earlier period.
Total revenue declined 7.1% year over year to S$25.4 million from S$27.4 million, and total operating expenses fell 5.7% on an annual basis to S$23.2 million from S$24.5 million.
Reported net income declined year over year to S$2.3 million, or 1 cents per share, from S$2.5 million, or 1 cents per share.
For the year, the company's normalized net income totaled 2 cents per share, a decline of 14.4% from 3 cents per share in the prior year.
Normalized net income was S$5.0 million, a fall of 14.5% from S$5.9 million in the prior year.
Full-year total revenue fell year over year to S$100.4 million from S$102.5 million, and total operating expenses declined on an annual basis to S$92.6 million from S$94.4 million.
The company said reported net income fell year over year to S$7.6 million, or 4 cents per share, in the full year, from S$7.9 million, or 4 cents per share.
As of April 13, US$1 was equivalent to S$1.35.