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Diamond Electric fiscal Q4 profit climbs YOY

Diamond Electric Mfg. Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥124.92 per share, an increase from ¥123.13 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥225.1 million, a gain from ¥222.0 million in the prior-year period.

The normalized profit margin declined to 1.6% from 1.7% in the year-earlier period.

Total revenue increased 7.5% on an annual basis to ¥14.38 billion from ¥13.38 billion, and total operating expenses grew 7.4% on an annual basis to ¥13.94 billion from ¥12.98 billion.

Reported net income came to a loss of ¥115.0 million, or a loss of ¥78.79 per share, compared to income of ¥189.0 million, or ¥104.83 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥482.41 per share, an increase from ¥467.75 per share in the prior year.

Normalized net income was ¥1.12 billion, a rise of 32.3% from ¥843.5 million in the prior year.

Full-year total revenue increased 12.2% on an annual basis to ¥57.24 billion from ¥51.03 billion, and total operating expenses increased 11.7% on an annual basis to ¥55.57 billion from ¥49.74 billion.

The company said reported net income totaled ¥558.0 million, or ¥241.18 per share, in the full year, compared with a loss of ¥1.10 billion, or a loss of ¥612.76 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.