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J Escom Holdings swings to loss in fiscal Q4

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J Escom Holdings swings to loss in fiscal Q4

J Escom Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥2.14 per share, compared with ¥1.12 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 ¥13.1 million, compared with income of ¥6.9 million in the year-earlier period.

The normalized profit margin dropped to negative 17.0% from 5.8% in the year-earlier period.

Total revenue declined 34.7% year over year to ¥77.0 million from ¥118.0 million, and total operating expenses declined 20.2% from the prior-year period to ¥87.0 million from ¥109.0 million.

Reported net income totaled a loss of ¥13.0 million, or a loss of ¥2.12 per share, compared to income of ¥8.0 million, or ¥1.31 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥6.74 per share, compared with 61 sen per share in the prior year.

Normalized net income was a loss of ¥41.3 million, compared with income of ¥3.8 million in the prior year.

Full-year total revenue declined 30.5% on an annual basis to ¥324.0 million from ¥466.0 million, and total operating expenses declined 22.5% year over year to ¥354.0 million from ¥457.0 million.

The company said reported net income totaled a loss of ¥61.0 million, or a loss of ¥9.97 per share, in the full year, compared with a loss of ¥7.0 million, or a loss of ¥1.14 per share, the prior year.

As of June 24, US$1 was equivalent to ¥124.31.