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Sanyo Electric Railway fiscal Q4 loss widens YOY

Sanyo Electric Railway Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥2.40 per share, compared with a loss of 1 sen 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 ¥53.4 million, compared with a loss of ¥250,000 in the year-earlier period.

The normalized profit margin fell to negative 0.4% from negative 0.0% in the year-earlier period.

Total revenue rose 7.6% on an annual basis to ¥12.85 billion from ¥11.94 billion, and total operating expenses rose 8.2% year over year to ¥12.75 billion from ¥11.78 billion.

Reported net income totaled a loss of ¥103.0 million, or a loss of ¥4.63 per share, compared to a loss of ¥11.0 million, or a loss of 49 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥88.08 per share, a decrease of 7.2% from ¥94.94 per share in the prior year.

Normalized net income was ¥1.96 billion, a fall of 7.2% from ¥2.11 billion in the prior year.

Full-year total revenue increased year over year to ¥48.10 billion from ¥46.51 billion, and total operating expenses grew year over year to ¥44.71 billion from ¥42.84 billion.

The company said reported net income fell on an annual basis to ¥1.93 billion, or ¥86.71 per share, in the full year, from ¥2.02 billion, or ¥90.75 per share.

As of June 22, US$1 was equivalent to ¥123.23.