T-Gaia Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥41.18 per share, an increase of 19.6% from ¥34.43 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.83 billion, a gain of 4.9% from ¥2.70 billion in the prior-year period.

The normalized profit margin increased to 1.6% from 1.4% in the year-earlier period.

Total revenue declined 9.9% on an annual basis to ¥178.00 billion from ¥197.58 billion, and total operating expenses fell 10.3% on an annual basis to ¥173.39 billion from ¥193.22 billion.

Reported net income grew 7.7% on an annual basis to ¥2.42 billion, or ¥35.12 per share, from ¥2.24 billion, or ¥28.61 per share.

For the year, the company's normalized net income totaled ¥128.12 per share, a gain of 27.7% from ¥100.36 per share in the prior year.

Normalized net income was ¥8.81 billion, an increase of 11.3% from ¥7.92 billion in the prior year.

Full-year total revenue declined 9.2% on an annual basis to ¥642.10 billion from ¥707.00 billion, and total operating expenses declined 9.6% on an annual basis to ¥627.79 billion from ¥694.24 billion.

The company said reported net income grew 13.4% year over year to ¥7.75 billion, or ¥112.68 per share, in the full year, from ¥6.84 billion, or ¥86.67 per share.

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