Nifco Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥51.90 per share, an increase of 13.8% from ¥45.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.75 billion, an increase of 13.9% from ¥2.41 billion in the year-earlier period.

The normalized profit margin declined to 4.4% from 4.7% in the year-earlier period.

Total revenue climbed 21.6% year over year to ¥62.78 billion from ¥51.62 billion, and total operating expenses increased 20.6% from the prior-year period to ¥57.64 billion from ¥47.81 billion.

Reported net income increased 44.6% from the prior-year period to ¥3.35 billion, or ¥63.41 per share, from ¥2.32 billion, or ¥43.90 per share.

For the year, the company's normalized net income totaled ¥231.89 per share, a gain of 21.0% from ¥191.70 per share in the prior year.

Normalized net income was ¥12.26 billion, an increase of 21.1% from ¥10.12 billion in the prior year.

Full-year total revenue grew 21.7% year over year to ¥225.41 billion from ¥185.17 billion, and total operating expenses grew 20.7% on an annual basis to ¥204.44 billion from ¥169.45 billion.

The company said reported net income increased 32.0% on an annual basis to ¥12.90 billion, or ¥244.02 per share, in the full year, from ¥9.77 billion, or ¥185.07 per share.

As of June 25, US$1 was equivalent to ¥123.71.