IVS Group SA said its normalized net income for the fourth quarter amounted to a loss of 9 euro cents per share, compared with 9 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €3.4 million, compared with income of €4.0 million in the prior-year period.

The normalized profit margin declined to negative 5.3% from 4.7% in the year-earlier period.

Total revenue climbed 6.8% on an annual basis to €90.4 million from €84.7 million, and total operating expenses rose from the prior-year period to €80.5 million from €77.2 million.

Reported net income totaled a loss of €32.1 million, or a loss of 82 cents per share, compared to income of €3.4 million, or 8 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 20 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 44 cents.

EPS rose from 10 cents in the prior year.

Normalized net income was €7.6 million, an increase of 81.3% from €4.2 million in the prior year.

Full-year total revenue grew 8.1% on an annual basis to €347.7 million from €321.6 million, and total operating expenses grew on an annual basis to €306.6 million from €295.5 million.

The company said reported net income came to a loss of €19.4 million, or a loss of 50 cents per share, in the full year, compared with income of €1.7 million, or 4 cents per share, the prior year.