Unitika Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥7.96 per share, a decrease of 78.6% from ¥37.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥998.1 million, a decline of 53.4% from ¥2.14 billion in the year-earlier period.

The normalized profit margin dropped to 2.5% from 4.9% in the year-earlier period.

Total revenue declined 10.0% on an annual basis to ¥39.70 billion from ¥44.12 billion, and total operating expenses fell 10.9% year over year to ¥36.30 billion from ¥40.74 billion.

Reported net income totaled ¥772.0 million, or ¥6.16 per share, compared to a loss of ¥6.52 billion, or a loss of ¥113.07 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥33.06 per share, a fall of 64.4% from ¥92.73 per share in the prior year.

Normalized net income was ¥4.17 billion, a decline of 22.0% from ¥5.35 billion in the prior year.

Full-year total revenue decreased 8.0% from the prior-year period to ¥146.47 billion from ¥159.13 billion, and total operating expenses declined 9.4% on an annual basis to ¥136.02 billion from ¥150.21 billion.

The company said reported net income came to ¥6.93 billion, or ¥54.96 per share, in the full year, compared with a loss of ¥27.03 billion, or a loss of ¥468.73 per share, the prior year.

As of June 29, US$1 was equivalent to ¥102.64.