Gfoot Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥21.92 per share, an increase of 64.5% from ¥13.32 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥913.1 million, a gain of 64.5% from ¥555.0 million in the prior-year period.

The normalized profit margin climbed to 3.7% from 2.3% in the year-earlier period.

Total revenue increased on an annual basis to ¥24.74 billion from ¥23.79 billion, and total operating expenses grew on an annual basis to ¥23.25 billion from ¥22.91 billion.

Reported net income increased 84.9% year over year to ¥525.0 million, or ¥12.60 per share, from ¥284.0 million, or ¥6.82 per share.

For the year, the company's normalized net income totaled ¥81.99 per share, an increase of 23.6% from ¥66.32 per share in the prior year.

Normalized net income was ¥3.42 billion, an increase of 23.6% from ¥2.76 billion in the prior year.

Full-year total revenue increased 5.2% on an annual basis to ¥103.47 billion from ¥98.37 billion, and total operating expenses increased year over year to ¥97.97 billion from ¥93.95 billion.

The company said reported net income increased 28.5% on an annual basis to ¥2.80 billion, or ¥67.24 per share, in the full year, from ¥2.18 billion, or ¥52.33 per share.

As of May 22, US$1 was equivalent to ¥121.48.