GSI Creos Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥34.40 per share, a decline of 20.9% from ¥43.50 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥221.3 million, a decline of 20.8% from ¥279.4 million in the prior-year period.

The normalized profit margin declined to 0.6% from 0.6% in the year-earlier period.

Total revenue declined 11.2% year over year to ¥39.58 billion from ¥44.55 billion, and total operating expenses declined 11.3% year over year to ¥39.06 billion from ¥44.06 billion.

Reported net income declined 16.2% year over year to ¥280.0 million, or ¥43.54 per share, from ¥334.0 million, or ¥52.00 per share.

For the year, the company's normalized net income totaled ¥94.75 per share, a decline from ¥98.28 per share in the prior year.

Normalized net income was ¥608.8 million, a decrease from ¥631.3 million in the prior year.

Full-year total revenue declined on an annual basis to ¥151.64 billion from ¥154.44 billion, and total operating expenses declined year over year to ¥150.41 billion from ¥153.27 billion.

The company said reported net income grew 33.0% year over year to ¥749.0 million, or ¥116.58 per share, in the full year, from ¥563.0 million, or ¥87.65 per share.

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