SRS Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥3.74 per share, an increase of 39.3% from ¥2.69 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥105.5 million, a gain of 39.3% from ¥75.8 million in the year-earlier period.

The normalized profit margin rose to 1.1% from 0.8% in the year-earlier period.

Total revenue fell on an annual basis to ¥9.72 billion from ¥10.08 billion, and total operating expenses declined from the prior-year period to ¥9.54 billion from ¥9.94 billion.

Reported net income increased from the prior-year period to ¥86.0 million, or ¥3.05 per share, from ¥34.0 million, or ¥1.21 per share.

For the year, the company's normalized net income totaled ¥29.25 per share, an increase of 53.3% from ¥19.08 per share in the prior year.

Normalized net income was ¥825.0 million, an increase of 53.3% from ¥538.1 million in the prior year.

Full-year total revenue rose 15.9% year over year to ¥37.97 billion from ¥32.76 billion, and total operating expenses rose 15.4% on an annual basis to ¥36.79 billion from ¥31.87 billion.

The company said reported net income increased 63.7% year over year to ¥840.0 million, or ¥29.78 per share, in the full year, from ¥513.0 million, or ¥18.19 per share.

As of June 29, US$1 was equivalent to ¥122.67.