Golf Digest Online Inc. said its normalized net income for the fourth quarter came to ¥10.16 per share, a gain of 54.8% from ¥6.56 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥185.0 million, an increase of 55.0% from ¥119.4 million in the prior-year period.

The normalized profit margin rose to 3.6% from 2.3% in the year-earlier period.

Total revenue came to ¥5.13 billion, compared with ¥5.09 billion in the year-earlier period, and total operating expenses decreased from the prior-year period to ¥4.84 billion from ¥4.91 billion.

Reported net income grew from the prior-year period to ¥127.7 million, or ¥7.01 per share, from ¥63.5 million, or ¥3.49 per share.

For the year, the company's normalized net income totaled ¥37.38 per share, a gain of 21.0% from ¥30.90 per share in the prior year.

Normalized net income was ¥680.0 million, a rise of 33.3% from ¥510.0 million in the prior year.

Full-year total revenue increased 7.0% from the prior-year period to ¥19.31 billion from ¥18.05 billion, and total operating expenses increased 5.9% year over year to ¥18.24 billion from ¥17.22 billion.

The company said reported net income increased 42.0% year over year to ¥611.2 million, or ¥33.60 per share, in the full year, from ¥430.3 million, or ¥26.07 per share.

As of March 30, US$1 was equivalent to ¥111.28.