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Nextage fiscal Q4 profit falls YOY

NETAGE Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, amounted to ¥4.03 per share, a decrease of 9.7% from ¥4.46 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥255.6 million, a decrease of 7.5% from ¥276.3 million in the prior-year period.

The normalized profit margin dropped to 1.4% from 1.9% in the year-earlier period.

Total revenue climbed 23.1% on an annual basis to ¥17.98 billion from ¥14.61 billion, and total operating expenses grew 24.5% on an annual basis to ¥17.57 billion from ¥14.12 billion.

Reported net income grew 13.2% on an annual basis to ¥313.3 million, or ¥4.94 per share, from ¥276.8 million, or ¥4.47 per share.

For the year, the company's normalized net income totaled ¥13.08 per share, a gain from ¥5.87 per share in the prior year.

Normalized net income was ¥829.4 million, a gain from ¥363.1 million in the prior year.

Full-year total revenue rose 25.1% from the prior-year period to ¥63.11 billion from ¥50.45 billion, and total operating expenses rose 24.5% on an annual basis to ¥61.84 billion from ¥49.69 billion.

The company said reported net income rose year over year to ¥841.8 million, or ¥13.28 per share, in the full year, from ¥326.6 million, or ¥5.28 per share.

As of Feb. 24, US$1 was equivalent to ¥111.14.