Chita Kogyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥18.34 per share, a gain of 49.8% from ¥12.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥175.6 million, an increase of 49.8% from ¥117.3 million in the prior-year period.

The normalized profit margin climbed to 5.9% from 4.0% in the year-earlier period.

Total revenue came to ¥2.99 billion, compared with ¥2.97 billion in the year-earlier period, and total operating expenses fell year over year to ¥2.77 billion from ¥2.81 billion.

Reported net income grew 28.7% on an annual basis to ¥175.0 million, or ¥18.27 per share, from ¥136.0 million, or ¥14.20 per share.

For the year, the company's normalized net income totaled ¥86.09 per share, an increase of 30.1% from ¥66.16 per share in the prior year.

Normalized net income was ¥824.6 million, a gain of 30.1% from ¥633.8 million in the prior year.

Full-year total revenue increased on an annual basis to ¥12.15 billion from ¥11.96 billion, and total operating expenses came to ¥11.12 billion, compared with ¥11.11 billion in the year-earlier period.

The company said reported net income rose 41.4% year over year to ¥925.0 million, or ¥96.57 per share, in the full year, from ¥654.0 million, or ¥68.27 per share.

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