P.C.S. Machine Group Holding Public Company Ltd said its normalized net income for the fourth quarter amounted to 6 satang per share, a gain from 3 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 86.7 million baht, a gain from 40.8 million baht in the prior-year period.

The normalized profit margin climbed to 9.8% from 4.3% in the year-earlier period.

Total revenue decreased year over year to 901.4 million baht from 938.4 million baht, and total operating expenses decreased 11.9% year over year to 769.3 million baht from 873.4 million baht.

Reported net income increased on an annual basis to 142.9 million baht, or 9 satang per share, from 65.5 million baht, or 4 satang per share.

For the year, the company's normalized net income totaled 16 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 20 satang.

EPS declined 30.3% from 22 satang in the prior year.

Normalized net income was 238.1 million baht, a decrease of 30.5% from 342.6 million baht in the prior year.

Full-year total revenue fell 9.6% year over year to 3.73 billion baht from 4.12 billion baht, and total operating expenses fell 6.7% on an annual basis to 3.36 billion baht from 3.60 billion baht.

The company said reported net income declined 29.5% year over year to 382.1 million baht, or 25 satang per share, in the full year, from 541.7 million baht, or 35 satang per share.

As of Feb. 28, US$1 was equivalent to 34.86 baht.