Arcs Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥47.68 per share, a decrease of 15.0% from ¥56.12 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.65 billion, a decline of 14.2% from ¥3.09 billion in the year-earlier period.

The normalized profit margin fell to 2.1% from 2.6% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to ¥125.70 billion from ¥117.74 billion, and total operating expenses grew 7.7% from the prior-year period to ¥121.83 billion from ¥113.13 billion.

Reported net income declined 42.9% on an annual basis to ¥1.14 billion, or ¥20.44 per share, from ¥1.99 billion, or ¥36.18 per share.

For the year, the company's normalized net income totaled ¥160.32 per share, a fall from ¥166.83 per share in the prior year.

Normalized net income was ¥8.88 billion, a decline from ¥9.18 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥470.31 billion from ¥454.39 billion, and total operating expenses increased on an annual basis to ¥457.24 billion from ¥440.96 billion.

The company said reported net income grew 26.4% year over year to ¥8.06 billion, or ¥145.48 per share, in the full year, from ¥6.38 billion, or ¥115.86 per share.

As of May 27, US$1 was equivalent to ¥123.75.