AFC-HD AMS Life Science Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 amounted to ¥8.23 per share, a decrease of 32.3% from ¥12.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥100.0 million, a decrease of 32.1% from ¥147.3 million in the year-earlier period.

The normalized profit margin fell to 2.9% from 4.2% in the year-earlier period.

Total revenue declined year over year to ¥3.46 billion from ¥3.50 billion, and total operating expenses grew from the prior-year period to ¥3.29 billion from ¥3.25 billion.

Reported net income declined 46.5% year over year to ¥97.2 million, or ¥8.00 per share, from ¥181.7 million, or ¥15.00 per share.

As of July 15, US$1 was equivalent to ¥105.85.