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Yamada SXL Home swings to loss in fiscal Q4

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Yamada SXL Home swings to loss in fiscal Q4

Yamada SXL Home Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was a loss of ¥1.52 per share, compared with ¥1.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥310.1 million, compared with income of ¥244.5 million in the year-earlier period.

The normalized profit margin declined to negative 2.2% from 1.6% in the year-earlier period.

Total revenue decreased 6.1% year over year to ¥14.35 billion from ¥15.27 billion, and total operating expenses came to ¥14.82 billion, compared with ¥14.86 billion in the prior-year period.

Reported net income came to a loss of ¥701.0 million, or a loss of ¥3.44 per share, compared to income of ¥139.0 million, or 68 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥4.23 per share, compared with a loss of ¥2.07 per share in the prior year.

Normalized net income was a loss of ¥862.6 million, compared with a loss of ¥422.3 million in the prior year.

Full-year total revenue grew on an annual basis to ¥51.65 billion from ¥49.77 billion, and total operating expenses increased on an annual basis to ¥52.92 billion from ¥50.41 billion.

The company said reported net income totaled a loss of ¥5.70 billion, or a loss of ¥27.93 per share, in the full year, compared with a loss of ¥982.0 million, or a loss of ¥4.82 per share, the prior year.

As of May 26, US$1 was equivalent to ¥123.07.