Boutique Newcity PCL said its fourth-quarter normalized net income came to a loss of 37 satang per share, compared with a loss of 9 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.5 million baht, compared with a loss of 1.0 million baht in the prior-year period.

The normalized profit margin dropped to negative 1.6% from negative 0.4% in the year-earlier period.

Total revenue came to 286.5 million baht, compared with 284.8 million baht in the prior-year period, and total operating expenses came to 268.8 million baht, compared with 267.2 million baht in the prior-year period.

Reported net income came to 13,100 baht, or 0 satang per share, compared to a loss of 973,950 baht, or a loss of 8 satang per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 1.09 baht per share, compared with a loss of 24 satang per share in the prior year.

Normalized net income was a loss of 13.0 million baht, compared with a loss of 2.9 million baht in the prior year.

Full-year total revenue fell 8.0% year over year to 956.4 million baht from 1.04 billion baht, and total operating expenses fell 5.8% on an annual basis to 981.6 million baht from 1.04 billion baht.

The company said reported net income totaled a loss of 7.9 million baht, or a loss of 65 satang per share, in the full year, compared with a loss of 5.2 million baht, or a loss of 43 satang per share, the prior year.

As of Feb. 29, US$1 was equivalent to 35.64 baht.