AgriNurture Inc. said its full-year normalized net income came to a loss of 22 Philippine centavos per share, compared with a loss of 36 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 137.9 million pesos, compared with a loss of 221.2 million pesos in the year-earlier period.

The normalized profit margin dropped to negative 24.2% from negative 18.0% in the year-earlier period.

Total revenue decreased 53.4% on an annual basis to 570.8 million pesos from 1.23 billion pesos, and total operating expenses fell 51.7% on an annual basis to 708.9 million pesos from 1.47 billion pesos.

Reported net income came to a loss of 229.9 million pesos, or a loss of 37 centavos per share, compared to a loss of 399.7 million pesos, or a loss of 64 centavos per share, in the prior-year period.

As of May 4, US$1 was equivalent to 49.90 Philippine pesos.