Kim Loong Resources Berhad said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 3 Malaysian sen per share, a decline of 39.1% from 5 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.0 million ringgits, a decrease of 38.8% from 14.7 million ringgits in the prior-year period.

The normalized profit margin dropped to 5.0% from 7.4% in the year-earlier period.

Total revenue decreased 8.1% on an annual basis to 181.3 million ringgits from 197.3 million ringgits, and total operating expenses fell from the prior-year period to 163.4 million ringgits from 167.8 million ringgits.

Reported net income fell 31.2% from the prior-year period to 13.6 million ringgits, or 4 sen per share, from 19.8 million ringgits, or 6 sen per share.

For the year, the company's normalized net income totaled 19 sen per share, an increase of 24.1% from 15 sen per share in the prior year.

Normalized net income was 58.9 million ringgits, a gain of 24.5% from 47.3 million ringgits in the prior year.

Full-year total revenue increased 21.0% on an annual basis to 774.9 million ringgits from 640.4 million ringgits, and total operating expenses rose 20.7% on an annual basis to 666.2 million ringgits from 551.8 million ringgits.

The company said reported net income increased 23.3% on an annual basis to 75.3 million ringgits, or 24 sen per share, in the full year, from 61.1 million ringgits, or 20 sen per share.

As of May 29, US$1 was equivalent to 3.66 ringgits.