Inversiones Siemel S.A. said its normalized net income for the fourth quarter came to 10.65 Chilean pesos per share, an increase from 1.13 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.86 billion pesos, a gain from 411.3 million pesos in the prior-year period.

The normalized profit margin rose to 22.6% from 5.2% in the year-earlier period.

Total revenue increased on an annual basis to 17.10 billion pesos from 7.88 billion pesos, and total operating expenses climbed 94.7% on an annual basis to 14.77 billion pesos from 7.59 billion pesos.

Reported net income came to 6.15 billion pesos, or 16.97 pesos per share, compared to a loss of 1.19 billion pesos, or a loss of 3.29 pesos per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15.69 pesos per share, an increase of 33.4% from 11.76 pesos per share in the prior year.

Normalized net income was 5.69 billion pesos, an increase of 33.4% from 4.26 billion pesos in the prior year.

Full-year total revenue increased year over year to 48.38 billion pesos from 21.42 billion pesos, and total operating expenses increased 105.5% year over year to 46.02 billion pesos from 22.39 billion pesos.

The company said reported net income grew 87.2% on an annual basis to 8.59 billion pesos, or 23.70 pesos per share, in the full year, from 4.59 billion pesos, or 12.66 pesos per share.

As of March 29, US$1 was equivalent to 678.43 Chilean pesos.