Twinbird Corp. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, amounted to ¥9.46 per share, a decrease of 58.5% from ¥22.78 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥82.5 million, a decline of 58.5% from ¥198.8 million in the year-earlier period.

The normalized profit margin declined to 2.6% from 6.1% in the year-earlier period.

Total revenue fell on an annual basis to ¥3.14 billion from ¥3.25 billion, and total operating expenses decreased 8.1% on an annual basis to ¥3.00 billion from ¥3.27 billion.

Reported net income decreased 53.9% on an annual basis to ¥77.0 million, or ¥8.83 per share, from ¥167.0 million, or ¥19.14 per share.

As of Jan. 14, US$1 was equivalent to ¥118.06.