LaOX Co. Ltd. said its fourth-quarter normalized net income came to ¥10.55 per share, a gain of 12.9% from ¥9.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥699.4 million, an increase of 37.5% from ¥508.8 million in the prior-year period.

The normalized profit margin climbed to 3.5% from 3.0% in the year-earlier period.

Total revenue climbed 17.5% on an annual basis to ¥20.12 billion from ¥17.12 billion, and total operating expenses climbed 16.3% on an annual basis to ¥19.01 billion from ¥16.35 billion.

Reported net income grew 33.2% on an annual basis to ¥970.0 million, or ¥14.63 per share, from ¥728.0 million, or ¥13.36 per share.

For the year, the company's normalized net income totaled ¥84.68 per share, an increase from ¥20.39 per share in the prior year.

Normalized net income was ¥5.40 billion, a rise from ¥1.11 billion in the prior year.

Full-year total revenue grew 84.7% year over year to ¥92.69 billion from ¥50.20 billion, and total operating expenses increased 73.7% year over year to ¥84.18 billion from ¥48.47 billion.

The company said reported net income rose year over year to ¥8.08 billion, or ¥126.70 per share, in the full year, from ¥1.24 billion, or ¥22.80 per share.

As of March 25, US$1 was equivalent to ¥113.11.