Coltejer SA said its fourth-quarter normalized net income was a loss of 126.71 Colombian pesos per share, compared with a loss of 17.74 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.87 billion pesos, compared with a loss of 2.02 billion pesos in the year-earlier period.

The normalized profit margin dropped to negative 15.4% from negative 4.2% in the year-earlier period.

Total revenue increased 19.1% year over year to 57.65 billion pesos from 48.41 billion pesos, and total operating expenses rose 39.2% on an annual basis to 61.67 billion pesos from 44.31 billion pesos.

Reported net income grew 35.7% year over year to 11.46 billion pesos, or 163.71 pesos per share, from 8.44 billion pesos, or 74.14 pesos per share.

For the year, the company's normalized net income totaled a loss of 281.71 pesos per share, compared with a loss of 28.85 pesos per share in the prior year.

Normalized net income was a loss of 19.72 billion pesos, compared with a loss of 2.02 billion pesos in the prior year.

Full-year total revenue increased year over year to 241.47 billion pesos from 236.50 billion pesos, and total operating expenses rose 14.1% year over year to 242.09 billion pesos from 212.16 billion pesos.

The company said reported net income totaled a loss of 7.88 billion pesos, or a loss of 112.56 pesos per share, in the full year, compared with income of 7.58 billion pesos, or 108.33 pesos per share, the prior year.

As of March 31, US$1 was equivalent to 2,891.97 Colombian pesos.