STI Education Systems Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to 80.4 million pesos, a gain from 30.8 million pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 12.8% from 5.6% in the year-earlier period.

Total revenue climbed 13.8% on an annual basis to 629.6 million pesos from 553.2 million pesos, and total operating expenses rose 11.9% year over year to 548.7 million pesos from 490.3 million pesos.

Reported net income rose from the prior-year period to 271.5 million pesos, or 2 centavos per share, from 71.2 million pesos, or 1 centavos per share.

For the year, the company's normalized net income totaled 4 centavos per share, a decrease of 20.8% from 5 centavos per share in the prior year.

Normalized net income was 396.9 million pesos, a decrease of 16.4% from 474.8 million pesos in the prior year.

Full-year total revenue grew 16.0% on an annual basis to 2.22 billion pesos from 1.92 billion pesos, and total operating expenses grew 18.0% year over year to 1.71 billion pesos from 1.44 billion pesos.

The company said reported net income rose 7.4% year over year to 731.7 million pesos, or 7 centavos per share, in the full year, from 681.1 million pesos, or 7 centavos per share.

As of July 14, US$1 was equivalent to 45.18 Philippine pesos.