Applied Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥37.73 per share, a decrease of 33.8% from ¥56.99 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥95.8 million, a decline of 33.6% from ¥144.3 million in the year-earlier period.

The normalized profit margin declined to 1.2% from 1.7% in the year-earlier period.

Total revenue declined year over year to ¥8.12 billion from ¥8.46 billion, and total operating expenses fell from the prior-year period to ¥8.01 billion from ¥8.22 billion.

Reported net income declined 81.4% year over year to ¥19.0 million, or ¥7.49 per share, from ¥102.0 million, or ¥40.30 per share.

For the year, the company's normalized net income totaled ¥71.66 per share, an increase of 12.0% from ¥64.00 per share in the prior year.

Normalized net income was ¥181.9 million, a gain of 12.7% from ¥161.4 million in the prior year.

Full-year total revenue declined year over year to ¥26.72 billion from ¥27.72 billion, and total operating expenses decreased on an annual basis to ¥26.47 billion from ¥27.46 billion.

The company said reported net income decreased 20.8% on an annual basis to ¥84.0 million, or ¥33.10 per share, in the full year, from ¥106.0 million, or ¥42.04 per share.

As of June 26, US$1 was equivalent to ¥123.96.