Global Dining Inc. said its fourth-quarter normalized net income was ¥11.06 per share, an increase from ¥4.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥111.3 million, a gain from ¥48.8 million in the year-earlier period.

The normalized profit margin rose to 4.3% from 1.8% in the year-earlier period.

Total revenue declined on an annual basis to ¥2.60 billion from ¥2.73 billion, and total operating expenses decreased 10.4% on an annual basis to ¥2.43 billion from ¥2.71 billion.

Reported net income totaled ¥92.0 million, or ¥9.15 per share, compared to a loss of ¥162.0 million, or a loss of ¥16.12 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥9.70 per share, compared with a loss of ¥4.66 per share in the prior year.

Normalized net income was ¥97.5 million, compared with a loss of ¥46.9 million in the prior year.

Full-year total revenue declined 6.5% year over year to ¥9.54 billion from ¥10.20 billion, and total operating expenses decreased 9.2% on an annual basis to ¥9.39 billion from ¥10.35 billion.

The company said reported net income came to a loss of ¥22.0 million, or a loss of ¥2.19 per share, in the full year, compared with a loss of ¥338.0 million, or a loss of ¥33.64 per share, the prior year.

As of March 29, US$1 was equivalent to ¥113.44.