Feedone Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥1.48 per share, a decrease of 63.1% from ¥4.00 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥290.8 million, a decrease of 63.1% from ¥787.4 million in the prior-year period.
The normalized profit margin declined to 0.6% from 1.3% in the year-earlier period.
Total revenue decreased 10.3% on an annual basis to ¥52.32 billion from ¥58.34 billion, and total operating expenses declined 9.1% year over year to ¥51.77 billion from ¥56.98 billion.
Reported net income fell 98.9% from the prior-year period to ¥9.0 million, or 5 sen per share, from ¥839.0 million, or ¥4.26 per share.
For the year, the company's normalized net income totaled ¥11.39 per share, an increase from ¥11.03 per share in the prior year.
Normalized net income was ¥2.24 billion, an increase of 32.4% from ¥1.70 billion in the prior year.
Full-year total revenue rose 37.0% on an annual basis to ¥228.90 billion from ¥167.03 billion, and total operating expenses rose 37.4% on an annual basis to ¥225.47 billion from ¥164.12 billion.
The company said reported net income grew 21.1% year over year to ¥2.31 billion, or ¥11.71 per share, in the full year, from ¥1.91 billion, or ¥12.40 per share.
As of June 29, US$1 was equivalent to ¥102.64.