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Cross Plus fiscal Q4 loss widens YOY

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Cross Plus fiscal Q4 loss widens YOY

Cross Plus Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to a loss of ¥75.39 per share, compared with a loss of ¥26.30 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 ¥551.9 million, compared with a loss of ¥192.5 million in the year-earlier period.

The normalized profit margin fell to negative 2.7% from negative 0.9% in the year-earlier period.

Total revenue fell 7.3% year over year to ¥20.23 billion from ¥21.81 billion, and total operating expenses declined on an annual basis to ¥21.16 billion from ¥22.17 billion.

Reported net income totaled a loss of ¥3.42 billion, or a loss of ¥466.65 per share, compared to a loss of ¥371.0 million, or a loss of ¥50.68 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥211.04 per share, compared with a loss of ¥297.22 per share in the prior year.

Normalized net income was a loss of ¥1.54 billion, compared with a loss of ¥2.17 billion in the prior year.

Full-year total revenue declined 6.4% from the prior-year period to ¥73.43 billion from ¥78.49 billion, and total operating expenses fell 7.4% on an annual basis to ¥76.05 billion from ¥82.16 billion.

The company said reported net income totaled a loss of ¥5.03 billion, or a loss of ¥687.64 per share, in the full year, compared with a loss of ¥2.81 billion, or a loss of ¥384.27 per share, the prior year.

As of April 24, US$1 was equivalent to ¥118.99.