Arab International for Investment & Education said its normalized net income for the fourth quarter amounted to 7 Jordanian fils per share, a decline of 32.9% from 11 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.9 million dinars, a decrease of 32.9% from 4.4 million dinars in the year-earlier period.

The normalized profit margin dropped to 19.9% from 28.2% in the year-earlier period.

Total revenue came to 15.6 million dinars, compared with 15.5 million dinars in the year-earlier period, and total operating expenses climbed 35.8% year over year to 11.6 million dinars from 8.6 million dinars.

Reported net income decreased 39.9% from the prior-year period to 3.8 million dinars, or 9 fils per share, from 6.3 million dinars, or 15 fils per share.

For the year, the company's normalized net income totaled 20 fils per share, a decline of 15.4% from 24 fils per share in the prior year.

Normalized net income was 8.2 million dinars, a decline of 15.4% from 9.6 million dinars in the prior year.

Full-year total revenue increased on an annual basis to 48.6 million dinars from 46.9 million dinars, and total operating expenses rose 10.7% year over year to 38.6 million dinars from 34.9 million dinars.

The company said reported net income fell 20.4% on an annual basis to 11.1 million dinars, or 27 fils per share, in the full year, from 13.9 million dinars, or 34 fils per share.

As of March 25, US$1 was equivalent to 71 Jordanian fils.