Tamron Co. Ltd. said its fourth-quarter normalized net income amounted to ¥25.13 per share, a decrease of 38.1% from ¥40.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥651.3 million, a decline of 41.6% from ¥1.11 billion in the year-earlier period.

The normalized profit margin fell to 3.4% from 5.0% in the year-earlier period.

Total revenue declined 14.9% on an annual basis to ¥19.14 billion from ¥22.50 billion, and total operating expenses decreased 11.7% from the prior-year period to ¥18.34 billion from ¥20.77 billion.

Reported net income fell 57.2% on an annual basis to ¥473.0 million, or ¥18.25 per share, from ¥1.11 billion, or ¥40.29 per share.

For the year, the company's normalized net income totaled ¥125.74 per share, a fall of 12.4% from ¥143.53 per share in the prior year.

Normalized net income was ¥3.31 billion, a decline of 16.1% from ¥3.94 billion in the prior year.

Full-year total revenue fell year over year to ¥71.95 billion from ¥73.62 billion, and total operating expenses came to ¥67.39 billion, compared with ¥67.55 billion in the year-earlier period.

The company said reported net income increased 5.3% on an annual basis to ¥4.05 billion, or ¥153.95 per share, in the full year, from ¥3.85 billion, or ¥140.11 per share.

As of March 30, US$1 was equivalent to ¥112.45.