Pacific Net Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 29 was ¥5.05 per share, compared with ¥5.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.1 million, compared with ¥26.3 million in the prior-year period.

The normalized profit margin dropped to 2.4% from 2.5% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.07 billion from ¥1.05 billion, and total operating expenses climbed on an annual basis to ¥1.04 billion from ¥1.01 billion.

Reported net income fell 51.9% on an annual basis to ¥25.0 million, or ¥4.83 per share, from ¥52.0 million, or ¥10.05 per share.

As of April 14, US$1 was equivalent to ¥109.17.