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Pixelz swings to profit in Q4

Pixel Co.z Inc. said its normalized net income for the fourth quarter was ¥2.02 per share, compared with a loss of ¥7.29 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.1 million, compared with a loss of ¥35.6 million in the prior-year period.

The normalized profit margin rose to 0.4% from negative 0.9% in the year-earlier period.

Total revenue increased on an annual basis to ¥4.33 billion from ¥4.19 billion, and total operating expenses climbed year over year to ¥4.31 billion from ¥4.26 billion.

Reported net income grew year over year to ¥167.5 million, or ¥18.70 per share, from ¥12.0 million, or ¥2.46 per share.

For the year, the company's normalized net income totaled ¥3.30 per share, compared with a loss of ¥66.24 per share in the prior year.

Normalized net income was ¥20.6 million, compared with a loss of ¥323.8 million in the prior year.

Full-year total revenue fell from the prior-year period to ¥15.92 billion from ¥16.14 billion, and total operating expenses declined on an annual basis to ¥15.88 billion from ¥16.66 billion.

The company said reported net income totaled ¥1.5 million, or 17 sen per share, in the full year, compared with a loss of ¥497.0 million, or a loss of ¥101.69 per share, the prior year.

As of March 30, US$1 was equivalent to ¥112.45.