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FCC Co. fiscal Q4 profit falls YOY

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FCC Co. fiscal Q4 profit falls YOY

F.C.C. Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥32.53 per share, a decline of 16.7% from ¥39.04 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.63 billion, a decline of 16.7% from ¥1.96 billion in the prior-year period.

The normalized profit margin dropped to 3.9% from 5.2% in the year-earlier period.

Total revenue increased 10.8% year over year to ¥41.82 billion from ¥37.74 billion, and total operating expenses grew 13.0% from the prior-year period to ¥38.36 billion from ¥33.94 billion.

Reported net income declined 8.7% from the prior-year period to ¥1.93 billion, or ¥38.50 per share, from ¥2.12 billion, or ¥42.18 per share.

For the year, the company's normalized net income totaled ¥148.75 per share, a fall of 25.0% from ¥198.34 per share in the prior year.

Normalized net income was ¥7.47 billion, a decline of 25.0% from ¥9.95 billion in the prior year.

Full-year total revenue increased 6.6% from the prior-year period to ¥154.40 billion from ¥144.89 billion, and total operating expenses rose 10.1% on an annual basis to ¥144.51 billion from ¥131.25 billion.

The company said reported net income declined 45.0% year over year to ¥7.23 billion, or ¥144.06 per share, in the full year, from ¥13.15 billion, or ¥261.97 per share.

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