Mlinotest Zivilska Industrija d.d. said its normalized net income for the fourth quarter came to 1 euro cents per share, a decline of 81.0% from 7 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €45,250, a decrease of 81.0% from €238,080 in the prior-year period.
The normalized profit margin dropped to 0.3% from 1.6% in the year-earlier period.
Total revenue climbed on an annual basis to €14.9 million from €14.5 million, and total operating expenses rose 8.9% from the prior-year period to €15.1 million from €13.9 million.
Reported net income decreased 48.8% from the prior-year period to €267,940, or 8 cents per share, from €523,480, or 15 cents per share.
For the year, the company's normalized net income totaled 16 cents per share, an increase of 13.1% from 14 cents per share in the prior year.
Normalized net income was €534,910, a rise of 13.1% from €472,890 in the prior year.
Full-year total revenue grew on an annual basis to €57.4 million from €56.2 million, and total operating expenses rose on an annual basis to €56.6 million from €55.4 million.
The company said reported net income increased 12.5% on an annual basis to €930,930, or 27 cents per share, in the full year, from €827,500, or 24 cents per share.