Nilörngruppen AB said its normalized net income for the fourth quarter amounted to 1.06 Swedish kronor per share, an increase of 27.1% from 84 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.1 million kronor, a gain of 27.1% from 9.5 million kronor in the prior-year period.

The normalized profit margin climbed to 8.3% from 7.5% in the year-earlier period.

Total revenue grew 15.7% on an annual basis to 145.9 million kronor from 126.1 million kronor, and total operating expenses grew 13.1% year over year to 125.7 million kronor from 111.1 million kronor.

Reported net income increased 22.6% on an annual basis to 16.1 million kronor, or 1.41 kronor per share, from 13.1 million kronor, or 1.15 kronor per share.

For the year, the company's normalized net income totaled 2.74 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3.12 kronor.

EPS declined from 2.80 kronor in the prior year.

Normalized net income was 31.2 million kronor, a fall from 32.0 million kronor in the prior year.

Full-year total revenue increased 15.2% on an annual basis to 527.2 million kronor from 457.5 million kronor, and total operating expenses grew 17.1% on an annual basis to 475.7 million kronor from 406.1 million kronor.

The company said reported net income fell 6.6% year over year to 39.0 million kronor, or 3.42 kronor per share, in the full year, from 41.7 million kronor, or 3.66 kronor per share.

As of March 29, US$1 was equivalent to 8.28 Swedish kronor.