Central Automotive Products Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥29.53 per share, an increase from ¥28.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥531.9 million, an increase from ¥516.3 million in the prior-year period.

The normalized profit margin dropped to 10.5% from 11.9% in the year-earlier period.

Total revenue rose 16.7% year over year to ¥5.08 billion from ¥4.36 billion, and total operating expenses grew 19.9% on an annual basis to ¥4.29 billion from ¥3.58 billion.

Reported net income grew 11.6% from the prior-year period to ¥577.0 million, or ¥32.03 per share, from ¥517.0 million, or ¥28.65 per share.

For the year, the company's normalized net income totaled ¥95.57 per share, a gain of 14.9% from ¥83.18 per share in the prior year.

Normalized net income was ¥1.72 billion, an increase of 14.8% from ¥1.50 billion in the prior year.

Full-year total revenue grew 5.5% year over year to ¥16.95 billion from ¥16.07 billion, and total operating expenses rose on an annual basis to ¥14.49 billion from ¥13.89 billion.

The company said reported net income rose 20.4% year over year to ¥1.87 billion, or ¥103.66 per share, in the full year, from ¥1.55 billion, or ¥85.99 per share.

As of June 27, US$1 was equivalent to ¥101.69.