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Karula swings to profit in fiscal Q4

Karula Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to 83 Japanese sen per share, compared with a loss of ¥2.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.0 million, compared with a loss of ¥17.5 million in the prior-year period.

The normalized profit margin increased to 0.3% from negative 1.0% in the year-earlier period.

Total revenue grew 5.2% year over year to ¥1.88 billion from ¥1.78 billion, and total operating expenses increased year over year to ¥1.87 billion from ¥1.81 billion.

Reported net income came to a loss of ¥66.0 million, or a loss of ¥10.99 per share, compared to a loss of ¥25.0 million, or a loss of ¥4.16 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥37.56 per share, a decrease of 6.7% from ¥40.27 per share in the prior year.

Normalized net income was ¥225.6 million, a decrease of 6.7% from ¥241.9 million in the prior year.

Full-year total revenue rose year over year to ¥7.96 billion from ¥7.69 billion, and total operating expenses increased on an annual basis to ¥7.61 billion from ¥7.29 billion.

The company said reported net income declined 76.8% on an annual basis to ¥45.0 million, or ¥7.49 per share, in the full year, from ¥194.0 million, or ¥32.30 per share.

As of May 27, US$1 was equivalent to ¥123.75.