Gabriel Holding A/S said its normalized net income for the fiscal fourth quarter ended Sept. 30 amounted to 2.12 Danish kroner per share, a decrease of 8.5% from 2.31 kroner per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.0 million kroner, a decrease of 8.5% from 4.4 million kroner in the year-earlier period.
The normalized profit margin declined to 4.7% from 6.5% in the year-earlier period.
Total revenue grew 29.2% on an annual basis to 86.5 million kroner from 67.0 million kroner, and total operating expenses increased 29.7% on an annual basis to 79.3 million kroner from 61.1 million kroner.
Reported net income fell 25.8% from the prior-year period to 4.0 million kroner, or 2.12 kroner per share, from 5.4 million kroner, or 2.86 kroner per share.
For the year, the company's normalized net income totaled 9.54 kroner per share, a gain from 9.31 kroner per share in the prior year.
Normalized net income was 18.0 million kroner, an increase from 17.6 million kroner in the prior year.
Full-year total revenue grew 19.7% year over year to 338.1 million kroner from 282.4 million kroner, and total operating expenses rose 20.4% year over year to 309.2 million kroner from 256.8 million kroner.
The company said reported net income declined on an annual basis to 21.5 million kroner, or 11.39 kroner per share, in the full year, from 21.9 million kroner, or 11.57 kroner per share.
As of Nov. 17, US$1 was equivalent to 7.01 Danish kroner.