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Pickles Corp. fiscal Q4 profit falls YOY

Pickles Corp. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥21.12 per share, an increase of 17.5% from ¥17.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥102.5 million, a decline of 10.9% from ¥115.0 million in the year-earlier period.

The normalized profit margin fell to 1.6% from 1.9% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to ¥6.37 billion from ¥5.96 billion, and total operating expenses climbed 7.0% year over year to ¥6.20 billion from ¥5.79 billion.

Reported net income decreased 9.8% year over year to ¥111.0 million, or ¥22.87 per share, from ¥123.0 million, or ¥19.24 per share.

For the year, the company's normalized net income totaled ¥117.12 per share, a gain of 23.2% from ¥95.06 per share in the prior year.

Normalized net income was ¥682.0 million, a rise of 12.2% from ¥607.9 million in the prior year.

Full-year total revenue rose from the prior-year period to ¥26.80 billion from ¥25.65 billion, and total operating expenses grew on an annual basis to ¥25.75 billion from ¥24.77 billion.

The company said reported net income declined 17.3% year over year to ¥503.0 million, or ¥86.38 per share, in the full year, from ¥608.0 million, or ¥95.08 per share.

As of May 28, US$1 was equivalent to ¥124.24.