Balincan International Inc. said its normalized net income for the fourth quarter came to a loss of $2,970, compared with a loss of $6,280 in the prior-year period.

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

The normalized profit margin was 12.5%.

Total revenue totaled $23,700, and total operating expenses came to $28,450.

Reported net income totaled a loss of $4,750, or a loss of 0 cents per share, compared to a loss of $10,050, or a loss of 0 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $22,500, compared with a loss of $-26,830 in the prior year.

Full-year total revenue declined 52.3% on an annual basis to $171,630 from $359,520, and total operating expenses decreased 48.4% on an annual basis to $207,630 from $402,470.

The company said reported net income came to a loss of $36,000, or a loss of 1 cents per share, in the full year, compared with a loss of $42,930, or a loss of 1 cents per share, the prior year.