Bangkok Dec-Con PCL said its normalized net income for the fourth quarter came to 3 satang per share, a gain from 1 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 25.3 million baht, a gain from 12.4 million baht in the year-earlier period.

The normalized profit margin increased to 9.7% from 6.7% in the year-earlier period.

Total revenue increased 41.8% year over year to 262.0 million baht from 184.8 million baht, and total operating expenses increased 34.4% year over year to 221.4 million baht from 164.7 million baht.

Reported net income increased 65.5% from the prior-year period to 35.5 million baht, or 4 satang per share, from 21.4 million baht, or 2 satang per share.

For the year, the company's normalized net income totaled 14 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 17 satang.

EPS rose 66.5% from 8 satang in the prior year.

Normalized net income was 125.4 million baht, an increase of 69.4% from 74.1 million baht in the prior year.

Full-year total revenue increased 27.1% year over year to 1.15 billion baht from 906.9 million baht, and total operating expenses increased 20.9% year over year to 951.6 million baht from 787.4 million baht.

The company said reported net income rose 66.5% on an annual basis to 161.5 million baht, or 18 satang per share, in the full year, from 97.0 million baht, or 11 satang per share.

As of Feb. 19, US$1 was equivalent to 35.76 baht.