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Olympic Group Corp. fiscal Q4 profit falls YOY

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Olympic Group Corp. fiscal Q4 profit falls YOY

Olympic Group Corp. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was 73 Japanese sen per share, a decrease of 69.2% from ¥2.39 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.9 million, a decrease of 69.3% from ¥55.0 million in the prior-year period.

The normalized profit margin declined to 0.1% from 0.2% in the year-earlier period.

Total revenue climbed year over year to ¥26.79 billion from ¥25.90 billion, and total operating expenses increased on an annual basis to ¥26.68 billion from ¥25.76 billion.

Reported net income totaled a loss of ¥202.0 million, or a loss of ¥8.79 per share, compared to income of ¥4.0 million, or 17 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥6.07 per share, a decline of 5.7% from ¥6.43 per share in the prior year.

Normalized net income was ¥139.4 million, a decrease of 6.3% from ¥148.8 million in the prior year.

Full-year total revenue grew year over year to ¥104.07 billion from ¥100.96 billion, and total operating expenses increased on an annual basis to ¥103.69 billion from ¥100.58 billion.

The company said reported net income came to a loss of ¥340.0 million, or a loss of ¥14.80 per share, in the full year, compared with income of ¥28.0 million, or ¥1.21 per share, the prior year.

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