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Unitika fiscal Q4 profit climbs YOY

Unitika Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥37.17 per share, an increase from ¥11.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.14 billion, an increase from ¥639.4 million in the year-earlier period.

The normalized profit margin increased to 4.9% from 1.5% in the year-earlier period.

Total revenue rose on an annual basis to ¥44.12 billion from ¥42.95 billion, and total operating expenses came to ¥40.74 billion, compared with ¥41.04 billion in the year-earlier period.

Reported net income totaled a loss of ¥6.52 billion, or a loss of ¥113.07 per share, compared to a loss of ¥1.70 billion, or a loss of ¥29.41 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥92.73 per share, an increase of 85.9% from ¥49.88 per share in the prior year.

Normalized net income was ¥5.35 billion, an increase of 85.9% from ¥2.88 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥159.13 billion from ¥162.69 billion, and total operating expenses declined on an annual basis to ¥150.21 billion from ¥155.89 billion.

The company said reported net income came to a loss of ¥27.03 billion, or a loss of ¥468.73 per share, in the full year, compared with income of ¥583.0 million, or ¥10.11 per share, the prior year.

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