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Arkcore fiscal Q4 loss narrows YOY

Arkcore Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to a loss of 76 Japanese sen per share, compared with a loss of ¥21.68 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 ¥1.3 million, compared with a loss of ¥42.5 million in the prior-year period.

The normalized profit margin climbed to negative 0.1% from negative 9.2% in the year-earlier period.

Total revenue grew 81.9% on an annual basis to ¥842.0 million from ¥463.0 million, and total operating expenses increased 59.5% from the prior-year period to ¥847.0 million from ¥531.0 million.

Reported net income totaled a loss of ¥7.0 million, or a loss of ¥4.24 per share, compared to a loss of ¥44.0 million, or a loss of ¥22.44 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥2.26 per share, a decline of 92.0% from ¥28.27 per share in the prior year.

Normalized net income was ¥3.8 million, a decrease of 93.3% from ¥55.6 million in the prior year.

Full-year total revenue decreased 18.8% from the prior-year period to ¥2.87 billion from ¥3.54 billion, and total operating expenses decreased 16.7% year over year to ¥2.87 billion from ¥3.44 billion.

The company said reported net income declined 83.1% year over year to ¥10.0 million, or ¥6.01 per share, in the full year, from ¥59.0 million, or ¥29.99 per share.

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