Bull-Dog Sauce Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥10.24 per share, a decrease of 18.8% from ¥12.62 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥70.0 million, a decrease of 18.8% from ¥86.3 million in the year-earlier period.

The normalized profit margin declined to 1.8% from 2.1% in the year-earlier period.

Total revenue declined on an annual basis to ¥3.95 billion from ¥4.09 billion, and total operating expenses decreased from the prior-year period to ¥3.84 billion from ¥3.96 billion.

Reported net income increased 50.0% on an annual basis to ¥99.0 million, or ¥14.49 per share, from ¥66.0 million, or ¥9.66 per share.

For the year, the company's normalized net income totaled ¥85.70 per share, a fall of 6.2% from ¥91.37 per share in the prior year.

Normalized net income was ¥585.6 million, a decline of 6.2% from ¥624.4 million in the prior year.

Full-year total revenue totaled ¥16.45 billion, compared with ¥16.59 billion in the prior year, and total operating expenses totaled ¥15.64 billion, compared with ¥15.70 billion in the prior-year period.

The company said reported net income grew 10.5% on an annual basis to ¥662.0 million, or ¥96.88 per share, in the full year, from ¥599.0 million, or ¥87.66 per share.

As of June 25, US$1 was equivalent to ¥123.71.