AB Vilkyskiu pienine said its normalized net income for the fourth quarter amounted to 2 euro cents per share, a decline of 83.2% from 11 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 €194,750, a decline of 84.5% from €1.3 million in the year-earlier period.
The normalized profit margin dropped to 0.8% from 4.4% in the year-earlier period.
Total revenue declined 15.7% on an annual basis to €24.4 million from €28.9 million, and total operating expenses decreased 10.7% on an annual basis to €23.9 million from €26.7 million.
Reported net income decreased 70.1% year over year to €542,000, or 5 cents per share, from €1.8 million, or 15 cents per share.
For the year, the company's normalized net income totaled 3 cents per share, a decrease of 83.2% from 17 cents per share in the prior year.
Normalized net income was €341,630, a decline of 83.2% from €2.0 million in the prior year.
Full-year total revenue decreased 23.0% on an annual basis to €84.4 million from €109.7 million, and total operating expenses fell 21.3% on an annual basis to €83.3 million from €105.8 million.
The company said reported net income declined 63.5% on an annual basis to €1.2 million, or 10 cents per share, in the full year, from €3.2 million, or 27 cents per share.