New Equity Venture International AB said its fourth-quarter normalized net income came to 48 Swedish öre per share, a gain from 17 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 1.8 million kronor, an increase from 453,280 kronor in the prior-year period.
The normalized profit margin climbed to 37.6% from 5.3% in the year-earlier period.
Total revenue declined 38.5% year over year to 5.2 million kronor from 8.5 million kronor, and total operating expenses fell 30.0% from the prior-year period to 6.0 million kronor from 8.6 million kronor.
Reported net income grew from the prior-year period to 3.0 million kronor, or 79 öre per share, from 688,270 kronor, or 25 öre per share.
For the year, the company's normalized net income totaled 2.94 kronor per share, compared with a loss of 59 öre per share in the prior year.
Normalized net income was 8.6 million kronor, compared with a loss of 1.6 million kronor in the prior year.
Full-year total revenue decreased 35.8% from the prior-year period to 54.4 million kronor from 84.6 million kronor, and total operating expenses fell 32.8% on an annual basis to 57.8 million kronor from 86.1 million kronor.
The company said reported net income came to 13.4 million kronor, or 4.62 kronor per share, in the full year, compared with a loss of 1.8 million kronor, or a loss of 67 öre per share, the prior year.
As of March 24, US$1 was equivalent to 8.31 Swedish kronor.