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Colowide fiscal Q4 profit falls YOY

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Colowide fiscal Q4 profit falls YOY

Colowide Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥5.99 per share, a decrease of 61.6% from ¥15.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥453.8 million, a decrease of 61.2% from ¥1.17 billion in the prior-year period.

The normalized profit margin fell to 0.7% from 3.1% in the year-earlier period.

Total revenue rose 75.8% year over year to ¥65.27 billion from ¥37.12 billion, and total operating expenses climbed 81.5% on an annual basis to ¥63.30 billion from ¥34.87 billion.

Reported net income grew from the prior-year period to ¥2.61 billion, or ¥34.40 per share, from ¥546.0 million, or ¥7.28 per share.

For the year, the company's normalized net income totaled ¥18.62 per share, a decline of 48.7% from ¥36.33 per share in the prior year.

Normalized net income was ¥1.40 billion, a decline of 48.6% from ¥2.73 billion in the prior year.

Full-year total revenue rose 19.6% from the prior-year period to ¥177.57 billion from ¥148.44 billion, and total operating expenses grew 21.3% year over year to ¥172.23 billion from ¥142.00 billion.

The company said reported net income fell year over year to ¥1.18 billion, or ¥15.69 per share, in the full year, from ¥1.21 billion, or ¥16.06 per share.

As of June 25, US$1 was equivalent to ¥123.71.