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Cassina Ixc. Q4 profit climbs 49.0% YOY

Cassina Ixc. Ltd. said its fourth-quarter normalized net income amounted to ¥37.56 per share, an increase of 49.0% from ¥25.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥142.5 million, a gain of 49.0% from ¥95.6 million in the prior-year period.

The normalized profit margin rose to 4.8% from 4.1% in the year-earlier period.

Total revenue increased 26.1% year over year to ¥2.95 billion from ¥2.34 billion, and total operating expenses rose 23.7% year over year to ¥2.73 billion from ¥2.20 billion.

Reported net income decreased 43.3% year over year to ¥199.0 million, or ¥52.45 per share, from ¥351.0 million, or ¥92.51 per share.

For the year, the company's normalized net income totaled ¥79.72 per share, a decline of 14.8% from ¥93.56 per share in the prior year.

Normalized net income was ¥302.5 million, a fall of 14.8% from ¥355.0 million in the prior year.

Full-year total revenue increased 31.8% from the prior-year period to ¥10.03 billion from ¥7.61 billion, and total operating expenses rose 35.0% on an annual basis to ¥9.56 billion from ¥7.08 billion.

The company said reported net income decreased 44.7% on an annual basis to ¥412.0 million, or ¥108.58 per share, in the full year, from ¥745.0 million, or ¥196.35 per share.

As of March 29, US$1 was equivalent to ¥113.44.