Bytom SA said its normalized net income for the fourth quarter amounted to 3 groszy per share, a gain of 53.4% from 2 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.8 million zlotys, an increase of 70.9% from 1.6 million zlotys in the year-earlier period.

The normalized profit margin climbed to 7.1% from 5.2% in the year-earlier period.

Total revenue grew 24.9% year over year to 38.8 million zlotys from 31.1 million zlotys, and total operating expenses grew 22.4% on an annual basis to 34.2 million zlotys from 27.9 million zlotys.

Reported net income rose 50.6% from the prior-year period to 3.9 million zlotys, or 5 groszy per share, from 2.6 million zlotys, or 4 groszy per share.

For the year, the company's normalized net income totaled 11 groszy per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 18 groszy.

EPS rose from 4 groszy in the prior year.

Normalized net income was 8.2 million zlotys, a rise from 3.1 million zlotys in the prior year.

Full-year total revenue grew 26.0% on an annual basis to 130.8 million zlotys from 103.9 million zlotys, and total operating expenses grew 20.0% year over year to 116.9 million zlotys from 97.5 million zlotys.

The company said reported net income increased on an annual basis to 12.6 million zlotys, or 17 groszy per share, in the full year, from 5.2 million zlotys, or 7 groszy per share.

As of March 8, US$1 was equivalent to 3.92 zlotys.