Lauritz.com Group A/S said its fourth-quarter normalized net income was 37.47 Danish kroner per share, a decline of 58.8% from 90.88 kroner per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.3 million kroner, a decrease of 58.3% from 5.5 million kroner in the prior-year period.

The normalized profit margin declined to 3.3% from 8.7% in the year-earlier period.

Total revenue climbed 12.3% year over year to 70.7 million kroner from 63.0 million kroner, and total operating expenses decreased 14.0% on an annual basis to 51.2 million kroner from 59.6 million kroner.

Reported net income declined 55.2% year over year to 2.8 million kroner, or 46.26 kroner per share, from 6.3 million kroner, or 104.52 kroner per share.

For the year, the company's normalized net income totaled a loss of 111.78 kroner per share, compared with 149.22 kroner per share in the prior year.

Normalized net income was a loss of 6.7 million kroner, compared with income of 9.0 million kroner in the prior year.

Full-year total revenue increased 46.8% on an annual basis to 225.2 million kroner from 153.4 million kroner, and total operating expenses increased 43.0% year over year to 195.5 million kroner from 136.7 million kroner.

The company said reported net income totaled a loss of 8.5 million kroner, or a loss of 141.84 kroner per share, in the full year, compared with income of 10.5 million kroner, or 175.00 kroner per share, the prior year.

As of Feb. 29, US$1 was equivalent to 6.86 Danish kroner.