Lanakam SA said its fourth-quarter normalized net income came to a loss of €100,440, compared with a loss of €3,590 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 17.6% from negative 0.9% in the year-earlier period.

Total revenue grew 40.0% on an annual basis to €572,270 from €408,890, and total operating expenses rose 61.3% from the prior-year period to €762,690 from €472,780.

Reported net income came to a loss of €145,280, or a loss of 2 cents per share, compared to a loss of €920, or a loss of 0 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 2 cents per share, compared with a loss of 1 cents per share in the prior year.

Normalized net income was a loss of €127,720, compared with a loss of €88,930 in the prior year.

Full-year total revenue amounted to €2.0 million, compared with €2.0 million in the prior year, and total operating expenses rose on an annual basis to €2.2 million from €2.1 million.

The company said reported net income came to a loss of €185,970, or a loss of 3 cents per share, in the full year, compared with a loss of €140,300, or a loss of 2 cents per share, the prior year.