Philadelphia International Educational Investment Co. PLC said its fourth-quarter normalized net income came to 11 Jordanian fils per share, a decline of 15.2% from 13 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million dinars, a decline of 15.2% from 2.0 million dinars in the year-earlier period.

The normalized profit margin fell to 23.1% from 27.7% in the year-earlier period.

Total revenue increased on an annual basis to 7.4 million dinars from 7.3 million dinars, and total operating expenses grew 15.1% from the prior-year period to 4.7 million dinars from 4.1 million dinars.

Reported net income decreased 22.5% on an annual basis to 2.2 million dinars, or 14 fils per share, from 2.8 million dinars, or 19 fils per share.

For the year, the company's normalized net income totaled 25 fils per share, a gain of 8.1% from 23 fils per share in the prior year.

Normalized net income was 3.8 million dinars, a rise of 8.1% from 3.5 million dinars in the prior year.

Full-year total revenue rose 8.8% on an annual basis to 21.2 million dinars from 19.4 million dinars, and total operating expenses increased 9.6% on an annual basis to 15.1 million dinars from 13.8 million dinars.

The company said reported net income came to 4.8 million dinars, or 32 fils per share, in the full year, compared with 4.8 million dinars, or 32 fils per share, the prior year.

As of Jan. 28, US$1 was equivalent to 71 Jordanian fils.