Photo-Me International PLC said its normalized net income for the fiscal second half ended April 30 came to 2 Great British pence per share, a gain of 31.9% from 1 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £6.0 million, a gain of 31.7% from £4.6 million in the prior-year period.

Total revenue decreased 5.2% year over year to £80.8 million from £85.3 million, and total operating expenses decreased 8.6% from the prior-year period to £71.3 million from £78.0 million.

Reported net income rose 37.0% on an annual basis to £7.4 million, or 2 pence per share, from £5.4 million, or 1 pence per share.

For the year, the company's normalized net income totaled 6 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7 pence.

EPS rose 27.0% from 5 pence in the prior year.

Normalized net income was £23.9 million, an increase of 26.9% from £18.8 million in the prior year.

Full-year total revenue decreased 5.0% on an annual basis to £177.2 million from £186.6 million, and total operating expenses declined 11.2% year over year to £139.0 million from £156.5 million.

The company said reported net income increased 30.3% on an annual basis to £27.9 million, or 7 pence per share, in the full year, from £21.4 million, or 6 pence per share.