SPVI PCL said its normalized net income for the fourth quarter came to 1 satang per share, a gain of 13.3% from 1 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million baht, a gain of 13.3% from 5.1 million baht in the prior-year period.

The normalized profit margin climbed to 1.1% from 0.9% in the year-earlier period.

Total revenue fell 12.5% on an annual basis to 517.5 million baht from 591.2 million baht, and total operating expenses decreased 12.8% year over year to 508.0 million baht from 582.8 million baht.

Reported net income rose 5.4% on an annual basis to 6.8 million baht, or 2 satang per share, from 6.5 million baht, or 2 satang per share.

For the year, the company's normalized net income totaled 2 satang per share, a decrease of 42.2% from 3 satang per share in the prior year.

Normalized net income was 7.2 million baht, a decline of 42.2% from 12.5 million baht in the prior year.

Full-year total revenue fell year over year to 1.87 billion baht from 1.96 billion baht, and total operating expenses declined year over year to 1.85 billion baht from 1.93 billion baht.

The company said reported net income declined 44.7% on an annual basis to 8.7 million baht, or 2 satang per share, in the full year, from 15.7 million baht, or 4 satang per share.

As of Feb. 16, US$1 was equivalent to 35.65 baht.