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RVH swings to profit in fiscal Q4

RVH Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥15.39 per share, compared with a loss of ¥1.46 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥174.4 million, compared with a loss of ¥8.8 million in the prior-year period.

The normalized profit margin increased to 4.9% from negative 3.3% in the year-earlier period.

Total revenue rose on an annual basis to ¥3.55 billion from ¥265.0 million, and total operating expenses increased from the prior-year period to ¥3.12 billion from ¥278.0 million.

Reported net income came to ¥269.4 million, or ¥23.77 per share, compared to a loss of ¥19.0 million, or a loss of ¥3.17 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥9.62 per share, compared with a loss of ¥21.12 per share in the prior year.

Normalized net income was ¥73.1 million, compared with a loss of ¥110.0 million in the prior year.

Full-year total revenue grew from the prior-year period to ¥5.23 billion from ¥476.0 million, and total operating expenses grew 648.7% year over year to ¥4.75 billion from ¥635.0 million.

The company said reported net income came to ¥1.01 billion, or ¥132.28 per share, in the full year, compared with a loss of ¥181.0 million, or a loss of ¥34.75 per share, the prior year.

As of June 24, US$1 was equivalent to ¥124.31.