Ditas Dogan Yedek Parça Imalat ve Teknik AS said its fourth-quarter normalized net income was a loss of 1.5 million lira, compared with a loss of 20,130 lira in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 8.3% from negative 0.1% in the year-earlier period.

Total revenue increased 23.9% on an annual basis to 18.6 million lira from 15.0 million lira, and total operating expenses increased 40.9% year over year to 21.0 million lira from 14.9 million lira.

Reported net income totaled a loss of 2.4 million lira, or a loss of 24 kurus per share, compared to a loss of 105,910 lira, or a loss of 1 kurus per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4 kurus per share, a decline of 93.9% from 58 kurus per share in the prior year.

Normalized net income was 358,540 lira, a decrease of 93.9% from 5.8 million lira in the prior year.

Full-year total revenue increased 13.0% year over year to 78.6 million lira from 69.6 million lira, and total operating expenses increased 31.4% year over year to 78.7 million lira from 59.9 million lira.

The company said reported net income totaled a loss of 271,620 lira, or a loss of 3 kurus per share, in the full year, compared with income of 7.4 million lira, or 74 kurus per share, the prior year.

As of March 1, US$1 was equivalent to 2.95 Turkish lira.