Hub Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥106.3 million, a gain of 6.9% from ¥99.4 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 4.5% from 4.5% in the year-earlier period.

Total revenue grew 7.7% on an annual basis to ¥2.37 billion from ¥2.20 billion, and total operating expenses rose 7.8% from the prior-year period to ¥2.19 billion from ¥2.04 billion.

Reported net income came to ¥95.0 million, compared with ¥98.0 million, or ¥8.70 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥109.03 per share, a gain from ¥39.20 per share in the prior year.

Normalized net income was ¥409.4 million, a fall of 7.2% from ¥441.3 million in the prior year.

Full-year total revenue rose 8.1% year over year to ¥9.21 billion from ¥8.52 billion, and total operating expenses grew 9.4% on an annual basis to ¥8.55 billion from ¥7.82 billion.

The company said reported net income fell 10.8% year over year to ¥381.0 million, or ¥101.47 per share, in the full year, from ¥427.0 million, or ¥37.93 per share.

As of May 28, US$1 was equivalent to ¥124.24.