Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 came to 64 Japanese sen per share, a decrease of 70.3% from ¥2.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.8 million, a decline of 70.3% from ¥59.8 million in the prior-year period.

The normalized profit margin fell to 0.5% from 1.9% in the year-earlier period.

Total revenue increased 17.7% year over year to ¥3.73 billion from ¥3.17 billion, and total operating expenses grew 21.1% from the prior-year period to ¥3.72 billion from ¥3.07 billion.

Reported net income totaled a loss of ¥18.0 million, or a loss of 65 sen per share, compared to income of ¥50.0 million, or ¥1.81 per share, in the year-earlier period.

As of July 13, US$1 was equivalent to ¥123.47.