Clarion Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥8.80 per share, a gain of 98.8% from ¥4.43 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.48 billion, an increase of 98.7% from ¥1.25 billion in the year-earlier period.

The normalized profit margin climbed to 4.6% from 2.4% in the year-earlier period.

Total revenue increased 5.8% year over year to ¥54.33 billion from ¥51.36 billion, and total operating expenses increased from the prior-year period to ¥50.08 billion from ¥49.17 billion.

Reported net income grew 95.3% on an annual basis to ¥3.74 billion, or ¥13.26 per share, from ¥1.91 billion, or ¥6.79 per share.

For the year, the company's normalized net income totaled ¥14.21 per share, an increase of 47.3% from ¥9.65 per share in the prior year.

Normalized net income was ¥4.01 billion, an increase of 47.3% from ¥2.72 billion in the prior year.

Full-year total revenue increased year over year to ¥198.63 billion from ¥191.34 billion, and total operating expenses increased on an annual basis to ¥191.03 billion from ¥186.11 billion.

The company said reported net income increased 45.9% on an annual basis to ¥4.88 billion, or ¥17.29 per share, in the full year, from ¥3.34 billion, or ¥11.85 per share.

As of June 22, US$1 was equivalent to ¥123.23.