Tarczynski SA said its fourth-quarter normalized net income was 42 groszy per share, a gain of 58.2% from 27 groszy per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.8 million zlotys, an increase of 58.2% from 3.0 million zlotys in the year-earlier period.
The normalized profit margin increased to 3.3% from 2.4% in the year-earlier period.
Total revenue increased 15.4% year over year to 143.1 million zlotys from 124.0 million zlotys, and total operating expenses rose 13.9% year over year to 133.8 million zlotys from 117.5 million zlotys.
Reported net income came to 3.8 million zlotys, or 34 groszy per share, compared to 3.8 million zlotys, or 34 groszy per share, in the prior-year period.
For the year, the company's normalized net income totaled 1.38 zlotys per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.70 zlotys.
EPS rose 67.5% from 82 groszy in the prior year.
Normalized net income was 15.6 million zlotys, a gain of 67.5% from 9.3 million zlotys in the prior year.
Full-year total revenue rose 9.6% on an annual basis to 542.0 million zlotys from 494.4 million zlotys, and total operating expenses grew 7.8% on an annual basis to 509.8 million zlotys from 472.8 million zlotys.
The company said reported net income grew 70.9% year over year to 20.0 million zlotys, or 1.76 zlotys per share, in the full year, from 11.7 million zlotys, or 1.03 zlotys per share.
As of March 4, US$1 was equivalent to 3.94 zlotys.