Yatas Yatak Ve Yorgan Sanayi Ticaret AS said its normalized net income for the fourth quarter amounted to 7 kurus per share, an increase of 18.2% from 6 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.1 million lira, a gain of 18.2% from 2.7 million lira in the year-earlier period.

The normalized profit margin rose to 3.5% from 3.5% in the year-earlier period.

Total revenue grew 19.0% year over year to 91.1 million lira from 76.6 million lira, and total operating expenses grew 23.6% from the prior-year period to 85.3 million lira from 69.0 million lira.

Reported net income rose on an annual basis to 4.0 million lira, or 9 kurus per share, from 1.4 million lira, or 3 kurus per share.

For the year, the company's normalized net income totaled 17 kurus per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 19 kurus.

EPS rose from 16 kurus in the prior year.

Normalized net income was 7.2 million lira, a rise from 6.9 million lira in the prior year.

Full-year total revenue rose 19.2% on an annual basis to 326.5 million lira from 273.9 million lira, and total operating expenses grew 20.8% year over year to 303.2 million lira from 250.9 million lira.

The company said reported net income rose 10.6% on an annual basis to 9.1 million lira, or 21 kurus per share, in the full year, from 8.2 million lira, or 19 kurus per share.

As of March 10, US$1 was equivalent to 2.90 Turkish lira.