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H-One swings to profit in fiscal Q4

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H-One swings to profit in fiscal Q4

H-One Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥83.56 per share, compared with a loss of ¥5.27 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.37 billion, compared with a loss of ¥149.8 million in the prior-year period.

The normalized profit margin rose to 4.5% from negative 0.3% in the year-earlier period.

Total revenue increased 6.6% year over year to ¥52.30 billion from ¥49.05 billion, and total operating expenses fell from the prior-year period to ¥47.18 billion from ¥48.82 billion.

Reported net income came to ¥1.77 billion, or ¥62.45 per share, compared to a loss of ¥22.0 million, or a loss of 77 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥83.94 per share, an increase from ¥22.16 per share in the prior year.

Normalized net income was ¥2.38 billion, a rise from ¥629.3 million in the prior year.

Full-year total revenue grew 7.8% on an annual basis to ¥200.22 billion from ¥185.75 billion, and total operating expenses rose 6.0% on an annual basis to ¥194.45 billion from ¥183.52 billion.

The company said reported net income rose on an annual basis to ¥2.38 billion, or ¥83.94 per share, in the full year, from ¥292.0 million, or ¥10.28 per share.

As of June 27, US$1 was equivalent to ¥101.69.