Poplar Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to a loss of ¥25.36 per share, compared with a loss of ¥22.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥251.3 million, compared with a loss of ¥220.6 million in the year-earlier period.

The normalized profit margin dropped to negative 2.3% from negative 1.7% in the year-earlier period.

Total revenue decreased 17.4% year over year to ¥10.87 billion from ¥13.16 billion, and total operating expenses fell 16.6% on an annual basis to ¥11.29 billion from ¥13.53 billion.

Reported net income totaled a loss of ¥1.25 billion, or a loss of ¥125.99 per share, compared to a loss of ¥1.03 billion, or a loss of ¥104.08 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥58.36 per share, compared with a loss of ¥46.88 per share in the prior year.

Normalized net income was a loss of ¥578.1 million, compared with a loss of ¥464.4 million in the prior year.

Full-year total revenue declined 12.1% on an annual basis to ¥48.76 billion from ¥55.49 billion, and total operating expenses decreased 11.6% year over year to ¥49.72 billion from ¥56.26 billion.

The company said reported net income totaled a loss of ¥1.92 billion, or a loss of ¥194.13 per share, in the full year, compared with a loss of ¥2.30 billion, or a loss of ¥232.19 per share, the prior year.

As of May 21, US$1 was equivalent to ¥121.11.