Alliance One International Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to 89 cents per share, compared with a loss of $1.55 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.9 million, compared with a loss of $13.6 million in the year-earlier period.
The normalized profit margin increased to 0.9% from negative 2.2% in the year-earlier period.
Total revenue increased 19.9% on an annual basis to $738.1 million from $615.8 million, and total operating expenses climbed 14.2% from the prior-year period to $698.8 million from $612.0 million.
Reported net income came to $4.4 million, or 42 cents per share, compared to a loss of $17.6 million, or a loss of $2.00 per share, in the year-earlier period.
For the year, the company's normalized net income totaled 47 cents per share, compared with a loss of 95 cents per share in the prior year.
Normalized net income was $4.2 million, compared with a loss of $8.3 million in the prior year.
Full-year total revenue declined 12.3% from the prior-year period to $2.07 billion from $2.35 billion, and total operating expenses decreased 13.4% on an annual basis to $1.96 billion from $2.26 billion.
The company said reported net income came to a loss of $15.0 million, or a loss of $1.75 per share, in the full year, compared with a loss of $102.5 million, or a loss of $11.69 per share, the prior year.
