OHTL Public Company Ltd said its normalized net income for the fourth quarter was 3.32 baht per share, a decrease of 45.5% from 6.08 baht per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.1 million baht, a decline of 45.5% from 91.8 million baht in the year-earlier period.

The normalized profit margin dropped to 9.3% from 14.3% in the year-earlier period.

Total revenue decreased 16.6% on an annual basis to 537.5 million baht from 644.1 million baht, and total operating expenses decreased 8.2% on an annual basis to 458.2 million baht from 498.9 million baht.

Reported net income declined 45.1% on an annual basis to 64.2 million baht, or 4.25 baht per share, from 116.8 million baht, or 7.73 baht per share.

For the year, the company's normalized net income totaled 8.60 baht per share, a fall of 7.7% from 9.31 baht per share in the prior year.

Normalized net income was 129.8 million baht, a decline of 7.7% from 140.6 million baht in the prior year.

Full-year total revenue totaled 1.92 billion baht, compared with 1.91 billion baht in the prior year, and total operating expenses increased year over year to 1.72 billion baht from 1.69 billion baht.

The company said reported net income fell 5.2% year over year to 166.0 million baht, or 11.00 baht per share, in the full year, from 175.2 million baht, or 11.60 baht per share.

As of Feb. 29, US$1 was equivalent to 35.64 baht.