G-Tekt Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥23.56 per share, a decrease of 50.1% from ¥47.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.03 billion, a decrease of 50.1% from ¥2.07 billion in the year-earlier period.

The normalized profit margin declined to 1.9% from 4.2% in the year-earlier period.

Total revenue rose 7.8% on an annual basis to ¥53.79 billion from ¥49.90 billion, and total operating expenses rose 11.9% year over year to ¥51.10 billion from ¥45.66 billion.

Reported net income decreased 76.9% from the prior-year period to ¥430.0 million, or ¥9.80 per share, from ¥1.86 billion, or ¥42.34 per share.

For the year, the company's normalized net income totaled ¥107.79 per share, a decrease of 34.5% from ¥164.68 per share in the prior year.

Normalized net income was ¥4.73 billion, a decline of 34.5% from ¥7.23 billion in the prior year.

Full-year total revenue rose 6.7% on an annual basis to ¥193.77 billion from ¥181.52 billion, and total operating expenses rose 10.0% on an annual basis to ¥184.13 billion from ¥167.40 billion.

The company said reported net income declined 42.0% year over year to ¥4.65 billion, or ¥106.00 per share, in the full year, from ¥8.02 billion, or ¥182.74 per share.

As of June 19, US$1 was equivalent to ¥122.78.