Mizuno reported that total consolidated net sales declined 6.9% to ¥162.0 billion ($1.62 bn) for the fiscal year ended March 31, compared to net sales of ¥174.0 billion ($1.53 bn) in the prior year. Operating income fell 63.0% to ¥2.91 billion ($29 mm) in the most recent year, compared to ¥7.86 billion ($69 mm) in the previous year.

Net income dipped 0.3% to ¥2.41 billion ($24 mm) for the year ended March 31, 2009 from ¥2.42 billion ($21 mm) in the prior year period.

For the fiscal fourth quarter, Mizuno posted ¥2.26 billion ($24 mm) in consolidated net income on net sales of ¥38.9 billion ($416 mm). Net sales fell 11.5% for the period versus the year-ago period.

Looking ahead, Mizuno sees consolidated net income of ¥1.3 billion on net sales of ¥80.0 billion for the first half the current fiscal year and net income of ¥2.5 billion on net sales of ¥160.0 billion for the year.