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Earth Chemical Q4 loss narrows YOY

Earth Corp. said its normalized net income for the fourth quarter amounted to a loss of ¥201.91 per share, compared with a loss of ¥251.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥4.08 billion, compared with a loss of ¥5.08 billion in the prior-year period.

The normalized profit margin increased to negative 13.1% from negative 18.7% in the year-earlier period.

Total revenue climbed 15.1% year over year to ¥31.22 billion from ¥27.13 billion, and total operating expenses rose 8.0% on an annual basis to ¥38.21 billion from ¥35.37 billion.

Reported net income came to a loss of ¥4.44 billion, or a loss of ¥219.96 per share, compared to a loss of ¥5.98 billion, or a loss of ¥296.06 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥163.07 per share, an increase of 52.1% from ¥107.23 per share in the prior year.

Normalized net income was ¥3.29 billion, a rise of 52.1% from ¥2.17 billion in the prior year.

Full-year total revenue rose 5.5% year over year to ¥168.50 billion from ¥159.74 billion, and total operating expenses rose on an annual basis to ¥162.97 billion from ¥155.75 billion.

The company said reported net income increased year over year to ¥3.36 billion, or ¥166.58 per share, in the full year, from ¥1.17 billion, or ¥57.69 per share.

As of March 27, US$1 was equivalent to ¥110.42.