Olam International Ltd. said its normalized net income for the fourth quarter came to 2 Singapore cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.
The per-share result swung to a profit from the prior-year loss of 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$68.3 million, compared with a loss of S$74.3 million in the year-earlier period.
The normalized profit margin increased to 1.1% from negative 1.5% in the year-earlier period.
Total revenue grew 23.5% year over year to S$6.15 billion from S$4.98 billion, and total operating expenses grew 27.5% on an annual basis to S$5.93 billion from S$4.65 billion.
Reported net income came to S$88.4 million, or 3 cents per share, compared to a loss of S$342.1 million, or a loss of 13 cents per share, in the prior-year period.
For the year, the company's normalized net income totaled 10 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 12 cents.
EPS rose 77.4% from 6 cents in the prior year.
Normalized net income was S$284.6 million, a rise of 99.4% from S$142.7 million in the prior year.
Full-year total revenue rose 11.0% year over year to S$20.63 billion from S$18.59 billion, and total operating expenses grew 12.6% year over year to S$19.84 billion from S$17.63 billion.
The company said reported net income came to S$317.6 million, or 11 cents per share, in the full year, compared with a loss of S$199.8 million, or a loss of 8 cents per share, the prior year.
As of April 10, US$1 was equivalent to S$1.41.