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Harada Industry swings to loss in fiscal Q4

Harada Industry Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 86 Japanese sen per share, compared with ¥3.16 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 ¥18.8 million, compared with income of ¥68.8 million in the prior-year period.

The normalized profit margin declined to negative 0.2% from 0.7% in the year-earlier period.

Total revenue grew 6.6% year over year to ¥10.69 billion from ¥10.03 billion, and total operating expenses increased 8.6% year over year to ¥10.57 billion from ¥9.73 billion.

Reported net income totaled a loss of ¥115.0 million, or a loss of ¥5.29 per share, compared to income of ¥433.0 million, or ¥19.91 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥27.18 per share, a decrease of 31.2% from ¥39.53 per share in the prior year.

Normalized net income was ¥591.3 million, a fall of 31.3% from ¥860.0 million in the prior year.

Full-year total revenue grew 9.1% year over year to ¥39.78 billion from ¥36.47 billion, and total operating expenses rose 10.8% year over year to ¥38.91 billion from ¥35.13 billion.

The company said reported net income declined 72.5% year over year to ¥346.0 million, or ¥15.91 per share, in the full year, from ¥1.26 billion, or ¥57.74 per share.

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