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SMC Corp. fiscal Q4 profit climbs 87.0% YOY

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SMC Corp. fiscal Q4 profit climbs 87.0% YOY

SMC Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥334.10 per share, a gain of 87.0% from ¥178.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.45 billion, an increase of 87.0% from ¥12.00 billion in the prior-year period.

The normalized profit margin climbed to 16.4% from 10.3% in the year-earlier period.

Total revenue climbed 17.4% on an annual basis to ¥136.62 billion from ¥116.34 billion, and total operating expenses climbed 12.4% year over year to ¥96.09 billion from ¥85.46 billion.

Reported net income rose 82.6% on an annual basis to ¥24.69 billion, or ¥367.45 per share, from ¥13.52 billion, or ¥201.23 per share.

For the year, the company's normalized net income totaled ¥1,374.05 per share, compared to EPS of ¥1,198.48 in the prior year.

Normalized net income was ¥92.33 billion, an increase from ¥80.52 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥487.63 billion from ¥475.61 billion, and total operating expenses grew year over year to ¥346.52 billion from ¥341.37 billion.

The company said reported net income grew year over year to ¥113.09 billion, or ¥1,683.14 per share, in the full year, from ¥92.14 billion, or ¥1,371.35 per share.

As of June 28, US$1 was equivalent to ¥112.08.