Central Automotive Products Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥28.61 per share, a decline of 6.2% from ¥30.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥516.3 million, a decline of 6.2% from ¥550.6 million in the year-earlier period.

The normalized profit margin dropped to 11.9% from 12.1% in the year-earlier period.

Total revenue declined year over year to ¥4.36 billion from ¥4.54 billion, and total operating expenses declined year over year to ¥3.58 billion from ¥3.73 billion.

Reported net income declined on an annual basis to ¥517.0 million, or ¥28.65 per share, from ¥542.0 million, or ¥30.03 per share.

For the year, the company's normalized net income totaled ¥83.18 per share, a decline of 10.7% from ¥93.15 per share in the prior year.

Normalized net income was ¥1.50 billion, a decrease of 10.7% from ¥1.68 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥16.07 billion from ¥15.89 billion, and total operating expenses increased on an annual basis to ¥13.89 billion from ¥13.56 billion.

The company said reported net income decreased 6.8% year over year to ¥1.55 billion, or ¥85.99 per share, in the full year, from ¥1.67 billion, or ¥92.30 per share.

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