Masterkool International Public Company Ltd said its normalized net income for the fourth quarter amounted to a loss of 1.6 million baht, compared with a loss of 1.1 million baht in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 1.6% from negative 1.6% in the year-earlier period.
Total revenue increased 50.5% year over year to 108.1 million baht from 71.8 million baht, and total operating expenses rose 52.8% year over year to 109.6 million baht from 71.7 million baht.
Reported net income came to a loss of 2.0 million baht, or a loss of 0 satang per share, compared to a loss of 1.5 million baht, or a loss of 0 satang per share, in the prior-year period.
For the year, the company's normalized net income totaled 1 satang per share, a decrease of 83.1% from 8 satang per share in the prior year.
Normalized net income was 5.3 million baht, a decline of 78.1% from 24.0 million baht in the prior year.
Full-year total revenue grew 38.2% from the prior-year period to 640.8 million baht from 463.5 million baht, and total operating expenses increased 49.1% on an annual basis to 624.7 million baht from 419.1 million baht.
The company said reported net income decreased 74.4% on an annual basis to 8.0 million baht, or 2 satang per share, in the full year, from 31.4 million baht, or 10 satang per share.
As of Feb. 24, US$1 was equivalent to 35.69 baht.