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Austindo Nusantara Jaya Q4 profit falls YOY

PT Austindo Nusantara Jaya Tbk said its fourth-quarter normalized net income was $532,250, a decrease of 78.1% from $2.4 million 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 21.5% from 6.1% in the year-earlier period.

Total revenue decreased 24.7% on an annual basis to $29.9 million from $39.7 million, and total operating expenses declined 16.9% on an annual basis to $30.6 million from $36.9 million.

Reported net income came to a loss of $540,470, or a loss of 0 cents per share, compared to income of $1.4 million, or 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $5.6 million, a fall of 79.1% from $26.8 million in the prior year.

Full-year total revenue fell 20.3% year over year to $126.8 million from $159.1 million, and total operating expenses declined year over year to $116.1 million from $122.0 million.

The company said reported net income totaled a loss of $8.2 million, or a loss of 0 cents per share, in the full year, compared with income of $18.4 million, or 1 cents per share, the prior year.