Stanley Electric Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥34.44 per share, a gain of 13.7% from ¥30.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.78 billion, an increase of 12.8% from ¥5.12 billion in the prior-year period.

The normalized profit margin declined to 6.0% from 6.0% in the year-earlier period.

Total revenue grew 12.9% on an annual basis to ¥96.01 billion from ¥85.03 billion, and total operating expenses rose 13.0% from the prior-year period to ¥85.92 billion from ¥76.03 billion.

Reported net income rose 12.8% on an annual basis to ¥6.74 billion, or ¥40.14 per share, from ¥5.97 billion, or ¥35.33 per share.

For the year, the company's normalized net income totaled ¥127.09 per share, an increase from ¥123.98 per share in the prior year.

Normalized net income was ¥21.40 billion, an increase from ¥20.98 billion in the prior year.

Full-year total revenue increased 9.3% year over year to ¥359.84 billion from ¥329.29 billion, and total operating expenses grew 10.0% on an annual basis to ¥321.79 billion from ¥292.43 billion.

The company said reported net income grew on an annual basis to ¥25.20 billion, or ¥149.67 per share, in the full year, from ¥24.35 billion, or ¥143.84 per share.

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