Swedol AB said its normalized net income for the fourth quarter came to 34 Swedish öre per share, a gain of 28.9% from 27 öre per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.0 million kronor, an increase of 28.9% from 17.1 million kronor in the year-earlier period.
The normalized profit margin declined to 1.1% from 4.3% in the year-earlier period.
Total revenue increased 15.6% on an annual basis to 460.5 million kronor from 398.2 million kronor, and total operating expenses rose 14.0% on an annual basis to 429.3 million kronor from 376.5 million kronor.
Reported net income decreased 41.6% on an annual basis to 6.6 million kronor, or 10 öre per share, from 11.3 million kronor, or 18 öre per share.
For the year, the company's normalized net income totaled 79 öre per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 94 öre.
EPS rose 33.1% from 59 öre in the prior year.
Normalized net income was 50.6 million kronor, a gain of 33.1% from 38.0 million kronor in the prior year.
Full-year total revenue rose 11.3% on an annual basis to 1.54 billion kronor from 1.38 billion kronor, and total operating expenses grew 10.2% year over year to 1.46 billion kronor from 1.33 billion kronor.
The company said reported net income grew 13.1% year over year to 42.3 million kronor, or 66 öre per share, in the full year, from 37.4 million kronor, or 58 öre per share.
As of Feb. 24, US$1 was equivalent to 8.49 Swedish kronor.