Altur SA said its normalized net income for the fourth quarter was a loss of 1.8 million lei, compared with a loss of 432,140 lei in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 8.0% from negative 2.0% in the year-earlier period.

Total revenue grew year over year to 22.5 million lei from 21.5 million lei, and total operating expenses rose 14.7% year over year to 25.1 million lei from 21.9 million lei.

Reported net income came to a loss of 4.6 million lei, or a loss of 1 bani per share, compared to a loss of 169,750 lei, or a loss of 0 bani per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.7 million lei, compared with a loss of -367,670 lei in the prior year.

Full-year total revenue increased 16.8% on an annual basis to 102.2 million lei from 87.5 million lei, and total operating expenses increased 21.2% on an annual basis to 105.3 million lei from 86.9 million lei.

The company said reported net income came to a loss of 3.0 million lei, or a loss of 0 bani per share, in the full year, compared with a loss of 1.5 million lei, or a loss of 0 bani per share, the prior year.

As of Feb. 18, US$1 was equivalent to 4.02 Romanian lei.