Compañía Chilena de Fósforos S.A. said its fourth-quarter normalized net income was 17.43 Chilean pesos per share, a decrease of 11.1% from 19.59 pesos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.07 billion pesos, a decline of 11.1% from 1.20 billion pesos in the prior-year period.

The normalized profit margin fell to 16.0% from 20.6% in the year-earlier period.

Total revenue grew 14.1% on an annual basis to 6.68 billion pesos from 5.85 billion pesos, and total operating expenses rose 17.7% year over year to 5.58 billion pesos from 4.74 billion pesos.

Reported net income fell 17.0% year over year to 1.47 billion pesos, or 23.96 pesos per share, from 1.78 billion pesos, or 28.87 pesos per share.

For the year, the company's normalized net income totaled 72.91 pesos per share, a decrease of 20.4% from 91.59 pesos per share in the prior year.

Normalized net income was 4.48 billion pesos, a decrease of 20.4% from 5.63 billion pesos in the prior year.

Full-year total revenue increased 11.6% year over year to 25.32 billion pesos from 22.69 billion pesos, and total operating expenses grew 16.2% on an annual basis to 21.90 billion pesos from 18.85 billion pesos.

The company said reported net income declined 27.2% on an annual basis to 6.14 billion pesos, or 99.77 pesos per share, in the full year, from 8.43 billion pesos, or 137.10 pesos per share.

As of Feb. 10, US$1 was equivalent to 710.50 Chilean pesos.