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Flying Garden fiscal Q4 profit falls YOY

Flying Garden Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥19.89 per share, a decline from ¥20.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.8 million, a decline from ¥29.4 million in the year-earlier period.

The normalized profit margin dropped to 1.6% from 1.7% in the year-earlier period.

Total revenue rose year over year to ¥1.80 billion from ¥1.76 billion, and total operating expenses increased from the prior-year period to ¥1.75 billion from ¥1.71 billion.

Reported net income came to ¥20.0 million, or ¥13.84 per share, compared to a loss of ¥31.0 million, or a loss of ¥21.44 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥57.50 per share, a gain of 35.7% from ¥42.37 per share in the prior year.

Normalized net income was ¥83.1 million, an increase of 35.7% from ¥61.3 million in the prior year.

Full-year total revenue increased year over year to ¥7.15 billion from ¥6.93 billion, and total operating expenses increased on an annual basis to ¥7.01 billion from ¥6.83 billion.

The company said reported net income came to ¥47.0 million, or ¥32.51 per share, in the full year, compared with a loss of ¥31.0 million, or a loss of ¥21.44 per share, the prior year.

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