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ABC-Mart fiscal Q4 profit falls YOY

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ABC-Mart fiscal Q4 profit falls YOY

ABC-Mart Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥59.69 per share, a decrease of 4.9% from ¥62.79 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.92 billion, a decline of 4.9% from ¥5.18 billion in the year-earlier period.

The normalized profit margin fell to 8.9% from 10.3% in the year-earlier period.

Total revenue climbed 10.8% on an annual basis to ¥55.54 billion from ¥50.14 billion, and total operating expenses increased 14.1% on an annual basis to ¥47.97 billion from ¥42.05 billion.

Reported net income increased on an annual basis to ¥5.08 billion, or ¥61.63 per share, from ¥4.97 billion, or ¥60.31 per share.

For the year, the company's normalized net income totaled ¥305.58 per share, an increase of 15.7% from ¥264.22 per share in the prior year.

Normalized net income was ¥25.21 billion, an increase of 15.7% from ¥21.79 billion in the prior year.

Full-year total revenue rose 13.6% from the prior-year period to ¥213.58 billion from ¥188.04 billion, and total operating expenses increased 13.0% year over year to ¥173.93 billion from ¥153.92 billion.

The company said reported net income grew 21.9% on an annual basis to ¥24.37 billion, or ¥295.49 per share, in the full year, from ¥19.99 billion, or ¥242.33 per share.

As of May 28, US$1 was equivalent to ¥124.24.