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Cocolonet swings to profit in fiscal Q4

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Cocolonet swings to profit in fiscal Q4

Cocolonet Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥10.90 per share, compared with a loss of ¥1.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥41.9 million, compared with a loss of ¥4.4 million in the prior-year period.

The normalized profit margin rose to 1.6% from negative 0.2% in the year-earlier period.

Total revenue fell year over year to ¥2.61 billion from ¥2.68 billion, and total operating expenses declined 5.9% on an annual basis to ¥2.56 billion from ¥2.72 billion.

Reported net income came to ¥29.0 million, or ¥7.55 per share, compared to a loss of ¥266.0 million, or a loss of ¥69.22 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥112.54 per share, a decrease of 26.3% from ¥152.71 per share in the prior year.

Normalized net income was ¥432.5 million, a fall of 26.3% from ¥586.9 million in the prior year.

Full-year total revenue declined from the prior-year period to ¥11.51 billion from ¥12.06 billion, and total operating expenses fell on an annual basis to ¥10.94 billion from ¥11.22 billion.

The company said reported net income fell 28.1% on an annual basis to ¥528.0 million, or ¥137.39 per share, in the full year, from ¥734.0 million, or ¥190.99 per share.

As of June 26, US$1 was equivalent to ¥123.96.