Pietro Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥11.18 per share, a gain of 75.4% from ¥6.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥62.5 million, a gain of 75.4% from ¥35.6 million in the prior-year period.

The normalized profit margin climbed to 2.7% from 1.6% in the year-earlier period.

Total revenue grew year over year to ¥2.34 billion from ¥2.24 billion, and total operating expenses grew from the prior-year period to ¥2.24 billion from ¥2.17 billion.

Reported net income came to ¥53.0 million, or ¥9.48 per share, compared to a loss of ¥12.0 million, or a loss of ¥2.15 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥66.29 per share, an increase of 11.7% from ¥59.36 per share in the prior year.

Normalized net income was ¥370.6 million, an increase of 11.7% from ¥331.9 million in the prior year.

Full-year total revenue amounted to ¥9.55 billion, compared with ¥9.60 billion in the prior year, and total operating expenses decreased on an annual basis to ¥8.95 billion from ¥9.05 billion.

The company said reported net income increased 23.8% year over year to ¥296.0 million, or ¥52.94 per share, in the full year, from ¥239.0 million, or ¥42.75 per share.

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