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Renown fiscal Q4 loss narrows YOY

Renown Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to a loss of ¥1.37 per share, compared with a loss of ¥3.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥139.0 million, compared with a loss of ¥329.4 million in the year-earlier period.

The normalized profit margin climbed to negative 0.7% from negative 1.5% in the year-earlier period.

Total revenue decreased 5.4% on an annual basis to ¥20.57 billion from ¥21.74 billion, and total operating expenses decreased 6.3% on an annual basis to ¥20.91 billion from ¥22.32 billion.

Reported net income totaled a loss of ¥368.0 million, or a loss of ¥3.64 per share, compared to a loss of ¥626.0 million, or a loss of ¥6.29 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥4.32 per share, a gain from ¥1.66 per share in the prior year.

Normalized net income was ¥436.9 million, a rise from ¥141.6 million in the prior year.

Full-year total revenue declined from the prior-year period to ¥72.20 billion from ¥75.86 billion, and total operating expenses fell 5.4% on an annual basis to ¥71.88 billion from ¥76.01 billion.

The company said reported net income came to a loss of ¥115.0 million, or a loss of ¥1.14 per share, in the full year, compared with a loss of ¥164.0 million, or a loss of ¥1.92 per share, the prior year.

As of May 29, US$1 was equivalent to ¥124.15.