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Havix fiscal Q4 profit climbs 64.0% YOY

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Havix fiscal Q4 profit climbs 64.0% YOY

Havix Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥9.85 per share, an increase of 64.0% from ¥6.01 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥76.9 million, a gain of 64.0% from ¥46.9 million in the year-earlier period.

The normalized profit margin climbed to 2.8% from 1.8% in the year-earlier period.

Total revenue climbed 7.2% year over year to ¥2.79 billion from ¥2.60 billion, and total operating expenses grew 5.4% on an annual basis to ¥2.65 billion from ¥2.51 billion.

Reported net income fell 18.8% year over year to ¥39.0 million, or ¥5.00 per share, from ¥48.0 million, or ¥6.15 per share.

For the year, the company's normalized net income totaled ¥40.52 per share, a decline from ¥42.12 per share in the prior year.

Normalized net income was ¥316.3 million, a fall from ¥328.8 million in the prior year.

Full-year total revenue grew year over year to ¥10.86 billion from ¥10.41 billion, and total operating expenses grew 5.3% on an annual basis to ¥10.40 billion from ¥9.88 billion.

The company said reported net income declined 29.0% year over year to ¥281.0 million, or ¥36.00 per share, in the full year, from ¥396.0 million, or ¥50.73 per share.

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