United-Guardian, Inc. said its fourth-quarter normalized net income was 7 cents per share, a decline of 71.0% from 26 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $341,520, a decrease of 71.0% from $1.2 million in the year-earlier period.
The normalized profit margin fell to 18.1% from 29.5% in the year-earlier period.
Total revenue decreased 52.7% year over year to $1.9 million from $4.0 million, and total operating expenses declined 33.2% year over year to $1.5 million from $2.2 million.
Reported net income fell 70.2% year over year to $418,370, or 9 cents per share, from $1.4 million, or 31 cents per share.
For the year, the company's normalized net income totaled 90 cents per share, a gain of 15.7% from 78 cents per share in the prior year.
Normalized net income was $4.1 million, a gain of 15.6% from $3.6 million in the prior year.
Full-year total revenue grew on an annual basis to $14.0 million from $13.4 million, and total operating expenses declined year over year to $7.7 million from $8.0 million.
The company said reported net income increased 13.7% year over year to $4.6 million, or $1.00 per share, in the full year, from $4.1 million, or 88 cents per share.