SUTL Enterprise Ltd said its fourth-quarter normalized net income amounted to S$935,630, a rise from S$281,880 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 11.6% from 4.0% in the year-earlier period.

Total revenue fell 10.7% on an annual basis to S$6.3 million from S$7.1 million, and total operating expenses fell 27.7% on an annual basis to S$4.7 million from S$6.5 million.

Reported net income grew 75.7% on an annual basis to S$1.3 million, or 2 cents per share, from S$754,760, or 2 cents per share.

For the year, the company's normalized net income totaled 4 cents per share, a decrease of 17.9% from 5 cents per share in the prior year.

Normalized net income was S$2.4 million, an increase of 55.5% from S$1.6 million in the prior year.

Full-year total revenue decreased 6.1% on an annual basis to S$26.2 million from S$27.9 million, and total operating expenses decreased 11.5% year over year to S$22.2 million from S$25.1 million.

The company said reported net income increased 46.5% on an annual basis to S$3.6 million, or 6 cents per share, in the full year, from S$2.4 million, or 7 cents per share.

As of April 13, US$1 was equivalent to S$1.35.