Yuasa Battery (Thailand) PCL said its normalized net income for the fourth quarter came to 2 satang per share, a decrease of 73.8% from 6 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million baht, a decrease of 73.8% from 6.7 million baht in the prior-year period.

The normalized profit margin dropped to 0.5% from 2.3% in the year-earlier period.

Total revenue rose 10.3% year over year to 323.2 million baht from 293.0 million baht, and total operating expenses climbed 13.8% year over year to 322.4 million baht from 283.2 million baht.

Reported net income came to a loss of 440,430 baht, or a loss of 0 satang per share, compared to income of 11.3 million baht, or 11 satang per share, in the prior-year period.

For the year, the company's normalized net income totaled 27 satang per share, compared with a loss of 7 satang per share in the prior year.

Normalized net income was 28.8 million baht, compared with a loss of 7.1 million baht in the prior year.

Full-year total revenue increased 5.3% on an annual basis to 1.62 billion baht from 1.54 billion baht, and total operating expenses grew on an annual basis to 1.58 billion baht from 1.56 billion baht.

The company said reported net income came to 43.9 million baht, or 41 satang per share, in the full year, compared with a loss of 9.1 million baht, or a loss of 8 satang per share, the prior year.

As of Feb. 24, US$1 was equivalent to 35.69 baht.