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Ten Allied swings to profit in fiscal Q4

Ten Allied Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 10 Japanese sen per share, compared with a loss of ¥1.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.5 million, compared with a loss of ¥38.8 million in the year-earlier period.

The normalized profit margin rose to 0.1% from negative 1.0% in the year-earlier period.

Total revenue fell year over year to ¥3.83 billion from ¥3.89 billion, and total operating expenses decreased year over year to ¥3.83 billion from ¥3.96 billion.

Reported net income totaled a loss of ¥266.0 million, or a loss of ¥10.25 per share, compared to a loss of ¥1.37 billion, or a loss of ¥52.92 per share, in the prior-year period.

For the year, the company's normalized net income totaled 67 sen per share, compared with a loss of ¥2.55 per share in the prior year.

Normalized net income was ¥17.5 million, compared with a loss of ¥66.3 million in the prior year.

Full-year total revenue totaled ¥15.52 billion, compared with ¥15.50 billion in the prior year, and total operating expenses came to ¥15.48 billion, compared with ¥15.62 billion in the prior-year period.

The company said reported net income came to a loss of ¥355.0 million, or a loss of ¥13.67 per share, in the full year, compared with a loss of ¥1.57 billion, or a loss of ¥60.40 per share, the prior year.

As of June 29, US$1 was equivalent to ¥102.64.