Ichitan Group Public Company Ltd said its fourth-quarter normalized net income came to 2 satang per share, compared with the S&P Capital IQ consensus estimate of 8 satang per share.

EPS declined 84.1% year over year from 13 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.4 million baht, a decrease of 84.1% from 166.3 million baht in the prior-year period.

The normalized profit margin dropped to 2.3% from 13.1% in the year-earlier period.

Total revenue fell 8.0% on an annual basis to 1.16 billion baht from 1.27 billion baht, and total operating expenses rose 6.4% from the prior-year period to 1.05 billion baht from 987.9 million baht.

Reported net income decreased 73.6% from the prior-year period to 53.8 million baht, or 4 satang per share, from 203.6 million baht, or 16 satang per share.

For the year, the company's normalized net income totaled 41 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 68 satang.

EPS declined 30.7% from 59 satang in the prior year.

Normalized net income was 529.5 million baht, a decrease of 25.8% from 713.2 million baht in the prior year.

Full-year total revenue rose year over year to 6.36 billion baht from 6.20 billion baht, and total operating expenses rose 8.2% year over year to 5.37 billion baht from 4.97 billion baht.

The company said reported net income decreased 24.7% on an annual basis to 812.7 million baht, or 63 satang per share, in the full year, from 1.08 billion baht, or 89 satang per share.

As of Feb. 24, US$1 was equivalent to 35.69 baht.