KUALA LUMPUR (Feb 28): Green Packet Bhd reported a fourth quarter net loss at RM2.62 million versus a net profit of RM451,000 a year earlier as the Internet-based technology company registered lower revenue besides higher finance cost and associate losses.

In a statement to Bursa Malaysia today, Green Packet said group revenue fell to RM97.79 million in the fourth quarter ended Dec 31, 2017 (4QFY17) from RM109.66 million.

"Software and devices business registered 53% lower sales in the current quarter compared to year on year basis mainly due to lower devices shipment to major customers in Asean compared to the previous year corresponding quarter. The communication services business recorded a higher revenue of 22% in the current quarter as compared to the previous year on year mainly due to improved sales from most of the countries in Asean and Middle East," Green Packet said.

For the full-year, Green Packet said FY17 net loss stood at RM16.62 million versus a net profit of RM70.69 million a year earlier. Revenue was lower at RM356.97 million compared to RM366.25 million.

Looking ahead, Green Packet said its growth plans include securing "greater geographical reach in markets for new LTE (long-term evolution) products" and expanding "the wholesale voice traffic and grow the wholesale data services".