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Asante fiscal Q4 profit falls YOY

Asante Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥12.39 per share, a decrease of 28.3% from ¥17.28 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥153.1 million, a decrease of 27.7% from ¥211.9 million in the year-earlier period.

The normalized profit margin declined to 5.6% from 7.2% in the year-earlier period.

Total revenue decreased 6.7% on an annual basis to ¥2.73 billion from ¥2.92 billion, and total operating expenses fell from the prior-year period to ¥2.54 billion from ¥2.59 billion.

Reported net income grew from the prior-year period to ¥107.0 million, or ¥8.66 per share, from ¥11.0 million, or 90 sen per share.

For the year, the company's normalized net income totaled ¥119.03 per share, a decrease of 9.0% from ¥130.77 per share in the prior year.

Normalized net income was ¥1.47 billion, a fall of 8.5% from ¥1.60 billion in the prior year.

Full-year total revenue decreased on an annual basis to ¥12.67 billion from ¥12.92 billion, and total operating expenses totaled ¥10.37 billion, compared with ¥10.35 billion in the prior-year period.

The company said reported net income increased year over year to ¥1.41 billion, or ¥114.53 per share, in the full year, from ¥1.38 billion, or ¥112.41 per share.

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