Press Kogyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥14.57 per share, a decline of 24.5% from ¥19.31 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.58 billion, a decrease of 24.5% from ¥2.10 billion in the year-earlier period.

The normalized profit margin declined to 3.1% from 3.9% in the year-earlier period.

Total revenue declined year over year to ¥51.79 billion from ¥54.39 billion, and total operating expenses fell on an annual basis to ¥48.63 billion from ¥51.03 billion.

Reported net income rose 10.0% year over year to ¥2.17 billion, or ¥19.99 per share, from ¥1.97 billion, or ¥18.17 per share.

For the year, the company's normalized net income totaled ¥51.02 per share, a decline of 20.4% from ¥64.07 per share in the prior year.

Normalized net income was ¥5.54 billion, a fall of 20.4% from ¥6.96 billion in the prior year.

Full-year total revenue amounted to ¥195.81 billion, compared with ¥197.62 billion in the prior year, and total operating expenses declined year over year to ¥185.69 billion from ¥187.79 billion.

The company said reported net income decreased 11.7% on an annual basis to ¥5.61 billion, or ¥51.67 per share, in the full year, from ¥6.36 billion, or ¥58.51 per share.

As of June 29, US$1 was equivalent to ¥102.64.