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Aigan swings to loss in fiscal Q4

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Aigan swings to loss in fiscal Q4

Aigan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥2.77 per share, compared with ¥2.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥53.8 million, compared with income of ¥54.4 million in the prior-year period.

The normalized profit margin declined to negative 1.4% from 1.2% in the year-earlier period.

Total revenue declined 12.5% on an annual basis to ¥3.85 billion from ¥4.41 billion, and total operating expenses declined 9.3% from the prior-year period to ¥3.96 billion from ¥4.37 billion.

Reported net income totaled a loss of ¥364.0 million, or a loss of ¥18.75 per share, compared to income of ¥38.0 million, or ¥1.96 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥10.37 per share, compared with a loss of ¥6.02 per share in the prior year.

Normalized net income was a loss of ¥201.3 million, compared with a loss of ¥116.9 million in the prior year.

Full-year total revenue fell 5.9% year over year to ¥15.99 billion from ¥17.00 billion, and total operating expenses fell 5.3% on an annual basis to ¥16.40 billion from ¥17.32 billion.

The company said reported net income totaled a loss of ¥1.24 billion, or a loss of ¥63.73 per share, in the full year, compared with a loss of ¥454.0 million, or a loss of ¥23.39 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.