Lüks Kadife Ticaret ve Sanayi A.S. said its normalized net income for the fourth quarter was 21 kurus per share, a gain from 4 kurus per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.1 million lira, a gain from 396,150 lira in the prior-year period.

The normalized profit margin climbed to 27.0% from 5.2% in the year-earlier period.

Total revenue grew year over year to 7.8 million lira from 7.6 million lira, and total operating expenses decreased 15.7% year over year to 5.9 million lira from 7.0 million lira.

Reported net income rose from the prior-year period to 3.1 million lira, or 31 kurus per share, from 539,460 lira, or 5 kurus per share.

For the year, the company's normalized net income totaled 16 kurus per share, a decline of 38.8% from 27 kurus per share in the prior year.

Normalized net income was 1.6 million lira, a decrease of 38.8% from 2.7 million lira in the prior year.

Full-year total revenue rose 6.8% on an annual basis to 32.5 million lira from 30.4 million lira, and total operating expenses rose on an annual basis to 26.7 million lira from 25.9 million lira.

The company said reported net income declined 48.3% year over year to 2.1 million lira, or 21 kurus per share, in the full year, from 4.0 million lira, or 40 kurus per share.

As of March 9, US$1 was equivalent to 2.89 Turkish lira.