Belc Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥55.74 per share, a decrease from ¥57.69 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.16 billion, a decline from ¥1.20 billion in the prior-year period.

The normalized profit margin declined to 2.7% from 3.2% in the year-earlier period.

Total revenue grew 14.3% year over year to ¥43.00 billion from ¥37.61 billion, and total operating expenses climbed 15.3% on an annual basis to ¥41.20 billion from ¥35.74 billion.

Reported net income increased 7.8% year over year to ¥1.09 billion, or ¥52.38 per share, from ¥1.01 billion, or ¥48.59 per share.

For the year, the company's normalized net income totaled ¥225.86 per share, a gain of 5.7% from ¥213.64 per share in the prior year.

Normalized net income was ¥4.71 billion, a gain of 5.7% from ¥4.46 billion in the prior year.

Full-year total revenue grew 11.1% on an annual basis to ¥161.12 billion from ¥145.02 billion, and total operating expenses increased 11.4% year over year to ¥153.84 billion from ¥138.13 billion.

The company said reported net income increased 11.8% year over year to ¥4.46 billion, or ¥213.97 per share, in the full year, from ¥3.99 billion, or ¥191.31 per share.

As of May 28, US$1 was equivalent to ¥124.24.