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SMC Corp. fiscal Q4 profit climbs 55.5% YOY

SMC Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥345.08 per share, an increase of 56.3% from ¥220.78 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.18 billion, an increase of 55.5% from ¥14.91 billion in the prior-year period.

The normalized profit margin increased to 19.5% from 14.5% in the year-earlier period.

Total revenue climbed 15.6% on an annual basis to ¥118.72 billion from ¥102.72 billion, and total operating expenses grew 11.1% from the prior-year period to ¥84.74 billion from ¥76.28 billion.

Reported net income increased 30.7% on an annual basis to ¥24.93 billion, or ¥371.12 per share, from ¥19.08 billion, or ¥282.52 per share.

For the year, the company's normalized net income totaled ¥1,472.85 per share, compared to EPS of ¥1,109.58 in the prior year.

Normalized net income was ¥99.06 billion, a gain from ¥75.16 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥458.08 billion from ¥395.30 billion, and total operating expenses grew on an annual basis to ¥330.39 billion from ¥290.15 billion.

The company said reported net income grew year over year to ¥109.58 billion, or ¥1,629.39 per share, in the full year, from ¥86.31 billion, or ¥1,274.21 per share.

As of June 25, US$1 was equivalent to ¥123.71.