Centro Escolar University said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 15 Philippine centavos per share, compared with 15 centavos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.0 million pesos, compared with 54.0 million pesos in the year-earlier period.
The normalized profit margin dropped to 11.4% from 11.9% in the year-earlier period.
Total revenue grew on an annual basis to 473.7 million pesos from 455.6 million pesos, and total operating expenses grew year over year to 386.9 million pesos from 369.2 million pesos.
Reported net income declined 24.9% from the prior-year period to 44.3 million pesos, or 12 centavos per share, from 59.0 million pesos, or 16 centavos per share.
For the year, the company's normalized net income totaled 67 centavos per share, a gain of 17.6% from 57 centavos per share in the prior year.
Normalized net income was 247.8 million pesos, a gain of 17.6% from 210.6 million pesos in the prior year.
Full-year total revenue grew 5.7% from the prior-year period to 1.69 billion pesos from 1.60 billion pesos, and total operating expenses increased year over year to 1.29 billion pesos from 1.26 billion pesos.
The company said reported net income grew 14.7% on an annual basis to 345.8 million pesos, or 93 centavos per share, in the full year, from 301.4 million pesos, or 81 centavos per share.
As of July 6, US$1 was equivalent to 45.07 Philippine pesos.