PAL Group Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥40.95 per share, a decline of 6.4% from ¥43.75 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥900.8 million, a decrease of 6.4% from ¥962.3 million in the year-earlier period.
The normalized profit margin dropped to 3.1% from 3.5% in the year-earlier period.
Total revenue grew 6.4% on an annual basis to ¥28.89 billion from ¥27.15 billion, and total operating expenses grew 6.1% from the prior-year period to ¥27.36 billion from ¥25.77 billion.
Reported net income declined year over year to ¥522.0 million, or ¥23.73 per share, from ¥545.0 million, or ¥24.78 per share.
For the year, the company's normalized net income totaled ¥226.07 per share, an increase of 24.2% from ¥182.08 per share in the prior year.
Normalized net income was ¥4.97 billion, a rise of 24.2% from ¥4.01 billion in the prior year.
Full-year total revenue grew 8.1% year over year to ¥108.09 billion from ¥100.03 billion, and total operating expenses rose 6.3% year over year to ¥99.98 billion from ¥94.09 billion.
The company said reported net income rose 40.6% year over year to ¥4.09 billion, or ¥186.03 per share, in the full year, from ¥2.91 billion, or ¥132.29 per share.
As of May 28, US$1 was equivalent to ¥124.24.