Smartphoto Group NV said its normalized net income for the second half was 46 euro cents per share, an increase of 47.5% from 31 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.6 million, an increase of 47.5% from €1.1 million in the year-earlier period.

Total revenue increased 5.4% on an annual basis to €21.6 million from €20.5 million, and total operating expenses grew on an annual basis to €19.0 million from €18.6 million.

Reported net income increased 27.9% from the prior-year period to €2.6 million, or 77 cents per share, from €2.0 million, or 60 cents per share.

For the year, the company's normalized net income totaled 36 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 30 cents.

EPS rose from 7 cents in the prior year.

Normalized net income was €1.3 million, an increase from €238,130 in the prior year.

Full-year total revenue rose from the prior-year period to €34.2 million from €32.6 million, and total operating expenses totaled €31.8 million, compared with €31.8 million in the year-earlier period.

The company said reported net income rose year over year to €1.6 million, or 44 cents per share, in the full year, from €173,000, or 5 cents per share.