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Shidax swings to loss in fiscal Q4

Shidax Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 87 Japanese sen per share, compared with ¥8.41 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥33.8 million, compared with income of ¥327.8 million in the prior-year period.

The normalized profit margin fell to negative 0.1% from 0.7% in the year-earlier period.

Total revenue fell 16.2% year over year to ¥40.48 billion from ¥48.30 billion, and total operating expenses fell 14.7% year over year to ¥40.46 billion from ¥47.41 billion.

Reported net income came to a loss of ¥3.39 billion, or a loss of ¥87.07 per share, compared to income of ¥325.0 million, or ¥8.34 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥3.02 per share, a decrease of 90.6% from ¥31.99 per share in the prior year.

Normalized net income was ¥117.8 million, a decrease of 90.7% from ¥1.26 billion in the prior year.

Full-year total revenue decreased 8.9% year over year to ¥174.46 billion from ¥191.58 billion, and total operating expenses declined 7.9% on an annual basis to ¥173.81 billion from ¥188.64 billion.

The company said reported net income declined 51.1% year over year to ¥255.0 million, or ¥6.54 per share, in the full year, from ¥521.0 million, or ¥13.23 per share.

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