Barón de Ley SA said its fourth-quarter normalized net income came to 77 euro cents per share, a decline of 57.4% from €1.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.3 million, a decline of 57.4% from €7.8 million in the prior-year period.

The normalized profit margin fell to 10.8% from 28.5% in the year-earlier period.

Total revenue climbed 12.7% on an annual basis to €30.7 million from €27.2 million, and total operating expenses increased from the prior-year period to €28.7 million from €28.1 million.

Reported net income decreased 63.7% year over year to €4.0 million, or 93 cents per share, from €11.0 million, or €2.56 per share.

For the year, the company's normalized net income totaled €4.54 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €6.12.

EPS declined 5.6% from €4.81 in the prior year.

Normalized net income was €19.5 million, a fall of 9.8% from €21.6 million in the prior year.

Full-year total revenue increased 6.5% on an annual basis to €93.8 million from €88.0 million, and total operating expenses rose 13.0% year over year to €75.4 million from €66.7 million.

The company said reported net income fell 15.2% on an annual basis to €23.5 million, or €5.46 per share, in the full year, from €27.7 million, or €6.15 per share.