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Futaba Industrial fiscal Q4 profit climbs 41.6% YOY

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Futaba Industrial fiscal Q4 profit climbs 41.6% YOY

Futaba Industrial Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥10.21 per share, an increase of 41.6% from ¥7.20 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥713.9 million, an increase of 41.6% from ¥504.0 million in the year-earlier period.

The normalized profit margin climbed to 0.6% from 0.5% in the year-earlier period.

Total revenue climbed year over year to ¥110.89 billion from ¥109.55 billion, and total operating expenses climbed year over year to ¥108.55 billion from ¥107.19 billion.

Reported net income fell 71.4% on an annual basis to ¥1.15 billion, or ¥16.38 per share, from ¥4.00 billion, or ¥57.24 per share.

For the year, the company's normalized net income totaled ¥10.58 per share, a gain from ¥4.82 per share in the prior year.

Normalized net income was ¥740.0 million, a gain from ¥337.1 million in the prior year.

Full-year total revenue rose 5.9% on an annual basis to ¥422.87 billion from ¥399.38 billion, and total operating expenses grew 5.5% on an annual basis to ¥418.51 billion from ¥396.59 billion.

The company said reported net income declined 64.8% on an annual basis to ¥1.04 billion, or ¥14.85 per share, in the full year, from ¥2.95 billion, or ¥42.23 per share.

As of June 30, US$1 was equivalent to ¥122.43.