S.C. Conted SA said its fourth-quarter normalized net income came to 83 Romanian bani per share, a decrease of 29.1% from 1.18 lei per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 199,970 lei, a decrease of 29.1% from 282,200 lei in the year-earlier period.
The normalized profit margin fell to 4.6% from 7.5% in the year-earlier period.
Total revenue rose 14.8% year over year to 4.3 million lei from 3.8 million lei, and total operating expenses rose 20.8% on an annual basis to 4.0 million lei from 3.3 million lei.
Reported net income fell 33.1% from the prior-year period to 257,790 lei, or 1.08 lei per share, from 385,600 lei, or 1.61 lei per share.
For the year, the company's normalized net income totaled 3.18 lei per share, a fall of 38.9% from 5.21 lei per share in the prior year.
Normalized net income was 762,530 lei, a decrease of 38.9% from 1.2 million lei in the prior year.
Full-year total revenue fell 9.0% on an annual basis to 17.5 million lei from 19.2 million lei, and total operating expenses fell 5.5% year over year to 16.3 million lei from 17.3 million lei.
The company said reported net income decreased 40.3% year over year to 1.0 million lei, or 4.21 lei per share, in the full year, from 1.7 million lei, or 7.05 lei per share.
As of March 14, US$1 was equivalent to 4.02 Romanian lei.