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Watt Mann fiscal Q4 profit climbs YOY

Watt Mann Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥3.31 per share, a gain from 97 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.3 million, an increase from ¥10.6 million in the year-earlier period.

The normalized profit margin rose to 4.7% from 1.6% in the year-earlier period.

Total revenue climbed 14.0% on an annual basis to ¥776.0 million from ¥681.0 million, and total operating expenses grew 6.5% on an annual basis to ¥726.0 million from ¥682.0 million.

Reported net income came to ¥44.0 million, or ¥4.02 per share, compared to ¥44.0 million, or ¥4.02 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥3.20 per share, a decrease of 53.7% from ¥6.91 per share in the prior year.

Normalized net income was ¥35.0 million, a decrease of 53.7% from ¥75.6 million in the prior year.

Full-year total revenue rose 5.5% year over year to ¥2.90 billion from ¥2.75 billion, and total operating expenses rose 7.8% on an annual basis to ¥2.86 billion from ¥2.65 billion.

The company said reported net income came to ¥36.0 million, or ¥3.29 per share, in the full year, compared with a loss of ¥332.0 million, or a loss of ¥30.36 per share, the prior year.

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