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Pixelz swings to loss in Q4

Pixel Co.z Inc. said its fourth-quarter normalized net income was a loss of ¥6.54 per share, compared with ¥2.02 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥64.4 million, compared with income of ¥18.1 million in the prior-year period.

The normalized profit margin declined to negative 1.3% from 0.4% in the year-earlier period.

Total revenue grew 16.1% year over year to ¥5.03 billion from ¥4.33 billion, and total operating expenses increased 19.4% from the prior-year period to ¥5.14 billion from ¥4.31 billion.

Reported net income came to a loss of ¥423.7 million, or a loss of ¥43.04 per share, compared to income of ¥167.5 million, or ¥18.70 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥13.96 per share, compared with ¥3.30 per share in the prior year.

Normalized net income was a loss of ¥116.3 million, compared with income of ¥20.6 million in the prior year.

Full-year total revenue rose 11.0% year over year to ¥17.68 billion from ¥15.92 billion, and total operating expenses grew 12.5% year over year to ¥17.85 billion from ¥15.88 billion.

The company said reported net income came to a loss of ¥215.0 million, or a loss of ¥25.81 per share, in the full year, compared with income of ¥1.5 million, or 17 sen per share, the prior year.

As of March 30, US$1 was equivalent to ¥111.28.