Tein Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥3.85 per share, a decrease of 62.8% from ¥10.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.0 million, a decline of 62.8% from ¥53.8 million in the year-earlier period.

The normalized profit margin declined to 2.1% from 5.7% in the year-earlier period.

Total revenue totaled ¥934.0 million, compared with ¥935.0 million in the year-earlier period, and total operating expenses climbed 8.7% year over year to ¥914.0 million from ¥841.0 million.

Reported net income declined 83.8% year over year to ¥16.0 million, or ¥3.08 per share, from ¥99.0 million, or ¥19.06 per share.

For the year, the company's normalized net income totaled ¥26.11 per share, a fall of 11.1% from ¥29.36 per share in the prior year.

Normalized net income was ¥135.6 million, a decline of 11.1% from ¥152.5 million in the prior year.

Full-year total revenue grew on an annual basis to ¥3.37 billion from ¥3.25 billion, and total operating expenses increased year over year to ¥3.22 billion from ¥3.08 billion.

The company said reported net income fell 32.1% year over year to ¥131.0 million, or ¥25.22 per share, in the full year, from ¥193.0 million, or ¥37.16 per share.

As of June 19, US$1 was equivalent to ¥122.78.