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Tiemco fiscal Q4 profit falls YOY

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Tiemco fiscal Q4 profit falls YOY

Tiemco Ltd. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, was ¥8.93 per share, a decline of 16.1% from ¥10.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.1 million, a decline of 22.9% from ¥30.0 million in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.8% in the year-earlier period.

Total revenue fell year over year to ¥769.0 million from ¥793.0 million, and total operating expenses decreased from the prior-year period to ¥732.0 million from ¥747.0 million.

Reported net income came to a loss of ¥1.46 billion, or a loss of ¥563.49 per share, compared to income of ¥29.0 million, or ¥10.29 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥6.79 per share, a decline of 12.5% from ¥7.76 per share in the prior year.

Normalized net income was ¥18.8 million, a fall of 14.3% from ¥21.9 million in the prior year.

Full-year total revenue decreased on an annual basis to ¥2.84 billion from ¥2.93 billion, and total operating expenses fell year over year to ¥2.81 billion from ¥2.90 billion.

The company said reported net income totaled a loss of ¥1.48 billion, or a loss of ¥536.93 per share, in the full year, compared with income of ¥8.0 million, or ¥2.84 per share, the prior year.

As of Feb. 26, US$1 was equivalent to ¥113.94.