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Mars Engineering fiscal Q4 profit falls YOY

Mars Engineering Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥37.46 per share, a decrease from ¥38.85 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥678.1 million, a decrease of 8.4% from ¥740.0 million in the year-earlier period.

The normalized profit margin dropped to 10.2% from 11.1% in the year-earlier period.

Total revenue totaled ¥6.63 billion, compared with ¥6.69 billion in the year-earlier period, and total operating expenses increased from the prior-year period to ¥5.68 billion from ¥5.55 billion.

Reported net income increased 20.6% from the prior-year period to ¥868.0 million, or ¥47.95 per share, from ¥720.0 million, or ¥37.80 per share.

For the year, the company's normalized net income totaled ¥184.12 per share, a decline from ¥192.89 per share in the prior year.

Normalized net income was ¥3.38 billion, a decrease of 8.0% from ¥3.67 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥27.77 billion from ¥27.35 billion, and total operating expenses grew year over year to ¥22.69 billion from ¥22.07 billion.

The company said reported net income decreased 17.1% on an annual basis to ¥3.55 billion, or ¥193.25 per share, in the full year, from ¥4.28 billion, or ¥224.73 per share.

As of June 29, US$1 was equivalent to ¥122.67.