Bio Osmo Bhd. said its fourth-quarter normalized net income was a loss of 999,380 ringgits, compared with a loss of 8.7 million ringgits in the year-earlier period.

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

The normalized profit margin increased to negative 66.9% from negative 246.2% in the year-earlier period.

Total revenue decreased 57.8% on an annual basis to 1.5 million ringgits from 3.5 million ringgits, and total operating expenses decreased 81.8% from the prior-year period to 3.3 million ringgits from 17.8 million ringgits.

Reported net income totaled a loss of 1.7 million ringgits, or a loss of 0 sen per share, compared to a loss of 14.1 million ringgits, or a loss of 3 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled 2.1 million ringgits, compared with a loss of -12.4 million ringgits in the prior year.

Full-year total revenue rose 47.4% from the prior-year period to 7.5 million ringgits from 5.1 million ringgits, and total operating expenses declined 56.0% on an annual basis to 11.3 million ringgits from 25.6 million ringgits.

The company said reported net income totaled a loss of 3.5 million ringgits, or a loss of 1 sen per share, in the full year, compared with a loss of 20.1 million ringgits, or a loss of 4 sen per share, the prior year.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.