AS Co. SA said its normalized net income for the fourth quarter was 4 euro cents per share, a decrease of 55.5% from 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €495,150, a decline of 55.6% from €1.1 million in the prior-year period.

The normalized profit margin dropped to 6.5% from 20.2% in the year-earlier period.

Total revenue grew 39.3% year over year to €7.7 million from €5.5 million, and total operating expenses increased 85.6% on an annual basis to €6.8 million from €3.7 million.

Reported net income rose year over year to €417,270, or 3 cents per share, from €171,790, or 1 cents per share.

For the year, the company's normalized net income totaled 11 cents per share, a decrease of 40.9% from 19 cents per share in the prior year.

Normalized net income was €1.5 million, a fall of 40.9% from €2.5 million in the prior year.

Full-year total revenue rose 11.3% year over year to €21.4 million from €19.2 million, and total operating expenses grew 25.1% on an annual basis to €18.9 million from €15.1 million.

The company said reported net income decreased 17.4% year over year to €1.5 million, or 12 cents per share, in the full year, from €1.9 million, or 14 cents per share.