P.C.S. Machine Group Holding Public Company Ltd said its normalized net income for the fourth quarter amounted to 3 satang per share, a decline of 21.1% from 3 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 40.8 million baht, a decrease of 22.2% from 52.4 million baht in the prior-year period.
The normalized profit margin dropped to 4.3% from 5.9% in the year-earlier period.
Total revenue climbed year over year to 938.4 million baht from 894.7 million baht, and total operating expenses rose 6.6% on an annual basis to 873.4 million baht from 819.5 million baht.
Reported net income fell 25.9% year over year to 65.5 million baht, or 4 satang per share, from 88.4 million baht, or 6 satang per share.
For the year, the company's normalized net income totaled 22 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 41 satang.
EPS declined 26.2% from 30 satang in the prior year.
Normalized net income was 342.6 million baht, a fall of 23.3% from 446.7 million baht in the prior year.
Full-year total revenue amounted to 4.12 billion baht, compared with 4.08 billion baht in the prior year, and total operating expenses grew 6.4% on an annual basis to 3.60 billion baht from 3.38 billion baht.
The company said reported net income declined 24.5% on an annual basis to 541.7 million baht, or 35 satang per share, in the full year, from 717.2 million baht, or 49 satang per share.
As of Feb. 29, US$1 was equivalent to 35.64 baht.