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Earth Chemical profit holds relatively steady YOY in Q4

Earth Corp. said its fourth-quarter normalized net income was a loss of ¥251.36 per share, compared with a loss of ¥251.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥5.08 billion, compared with a loss of ¥5.08 billion in the year-earlier period.

The normalized profit margin increased to negative 18.7% from negative 19.0% in the year-earlier period.

Total revenue increased year over year to ¥27.13 billion from ¥26.73 billion, and total operating expenses came to ¥35.37 billion, compared with ¥35.31 billion in the prior-year period.

Reported net income came to a loss of ¥5.98 billion, or a loss of ¥296.06 per share, compared to a loss of ¥6.03 billion, or a loss of ¥298.43 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥107.23 per share, a decrease of 34.4% from ¥163.35 per share in the prior year.

Normalized net income was ¥2.17 billion, a fall of 34.4% from ¥3.30 billion in the prior year.

Full-year total revenue increased 9.5% from the prior-year period to ¥159.74 billion from ¥145.86 billion, and total operating expenses grew 10.4% on an annual basis to ¥155.75 billion from ¥141.02 billion.

The company said reported net income declined 31.7% year over year to ¥1.17 billion, or ¥57.69 per share, in the full year, from ¥1.71 billion, or ¥84.42 per share.

As of March 28, US$1 was equivalent to ¥113.26.