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General Oyster swings to loss in fiscal Q4

General Oyster Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥50.42 per share, compared with ¥42.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥76.9 million, compared with income of ¥53.1 million in the year-earlier period.

The normalized profit margin declined to negative 7.8% from 5.1% in the year-earlier period.

Total revenue fell 6.0% on an annual basis to ¥980.0 million from ¥1.04 billion, and total operating expenses climbed 17.4% year over year to ¥1.10 billion from ¥938.0 million.

Reported net income totaled a loss of ¥114.0 million, or a loss of ¥74.77 per share, compared to income of ¥90.0 million, or ¥71.84 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥146.79 per share, compared with ¥94.16 per share in the prior year.

Normalized net income was a loss of ¥219.4 million, compared with income of ¥115.0 million in the prior year.

Full-year total revenue grew from the prior-year period to ¥3.89 billion from ¥3.85 billion, and total operating expenses increased 16.4% on an annual basis to ¥4.24 billion from ¥3.64 billion.

The company said reported net income totaled a loss of ¥486.0 million, or a loss of ¥325.19 per share, in the full year, compared with income of ¥153.0 million, or ¥125.27 per share, the prior year.

As of June 30, US$1 was equivalent to ¥102.42.