Ivy Cosmetics Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥41.87 per share, a decrease of 37.7% from ¥67.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥171.9 million, a decline of 40.9% from ¥290.6 million in the prior-year period.

The normalized profit margin dropped to 11.5% from 16.8% in the year-earlier period.

Total revenue declined 13.7% year over year to ¥1.49 billion from ¥1.73 billion, and total operating expenses decreased year over year to ¥1.21 billion from ¥1.26 billion.

Reported net income fell 59.2% from the prior-year period to ¥192.0 million, or ¥46.77 per share, from ¥471.0 million, or ¥108.88 per share.

For the year, the company's normalized net income totaled ¥54.58 per share, a fall of 19.8% from ¥68.04 per share in the prior year.

Normalized net income was ¥233.1 million, a decline of 20.8% from ¥294.4 million in the prior year.

Full-year total revenue declined year over year to ¥4.49 billion from ¥4.71 billion, and total operating expenses fell year over year to ¥4.11 billion from ¥4.24 billion.

The company said reported net income declined 46.1% year over year to ¥235.0 million, or ¥55.02 per share, in the full year, from ¥436.0 million, or ¥100.77 per share.

As of June 29, US$1 was equivalent to ¥122.67.