Bull-Dog Sauce Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥19.85 per share, a decline of 11.4% from ¥22.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥135.6 million, a decline of 11.4% from ¥153.1 million in the year-earlier period.

The normalized profit margin dropped to 3.2% from 3.7% in the year-earlier period.

Total revenue climbed year over year to ¥4.21 billion from ¥4.10 billion, and total operating expenses rose year over year to ¥4.00 billion from ¥3.86 billion.

Reported net income grew 6.8% from the prior-year period to ¥188.0 million, or ¥27.51 per share, from ¥176.0 million, or ¥25.76 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.