Sanoh Industrial Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥12.01 per share, a gain of 17.8% from ¥10.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥437.1 million, an increase of 17.8% from ¥371.1 million in the prior-year period.

The normalized profit margin fell to 1.2% from 1.3% in the year-earlier period.

Total revenue rose 27.4% on an annual basis to ¥37.33 billion from ¥29.31 billion, and total operating expenses climbed 27.5% on an annual basis to ¥35.57 billion from ¥27.90 billion.

Reported net income totaled a loss of ¥492.0 million, or a loss of ¥13.52 per share, compared to income of ¥146.0 million, or ¥4.01 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥78.49 per share, an increase of 9.8% from ¥71.46 per share in the prior year.

Normalized net income was ¥2.86 billion, a gain of 9.8% from ¥2.60 billion in the prior year.

Full-year total revenue grew 24.7% from the prior-year period to ¥130.63 billion from ¥104.79 billion, and total operating expenses grew 24.6% year over year to ¥124.79 billion from ¥100.17 billion.

The company said reported net income declined 27.9% on an annual basis to ¥1.58 billion, or ¥43.33 per share, in the full year, from ¥2.19 billion, or ¥60.12 per share.

As of June 23, US$1 was equivalent to ¥123.88.