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Ride On Express posts fiscal Q4 profit

Ride On Express Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥115.6 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.6%.

Total revenue totaled ¥4.37 billion, and total operating expenses came to ¥4.07 billion.

Reported net income totaled ¥90.7 million, or ¥8.43 per share.

For the year, the company's normalized net income totaled ¥62.82 per share, a gain of 6.6% from ¥58.95 per share in the prior year.

Normalized net income was ¥673.1 million, a rise of 7.7% from ¥625.0 million in the prior year.

Full-year total revenue totaled ¥17.35 billion, compared with ¥17.25 billion in the prior year, and total operating expenses totaled ¥16.13 billion, compared with ¥16.18 billion in the prior-year period.

The company said reported net income increased 20.5% year over year to ¥673.0 million, or ¥62.81 per share, in the full year, from ¥558.4 million, or ¥52.67 per share.

As of June 28, US$1 was equivalent to ¥102.79.