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Autobacs Seven swings to loss in fiscal Q4

Autobacs Seven Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥3.35 per share, compared with ¥2.17 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 ¥281.1 million, compared with income of ¥187.4 million in the prior-year period.

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

Total revenue rose on an annual basis to ¥43.26 billion from ¥41.51 billion, and total operating expenses climbed 5.3% from the prior-year period to ¥44.06 billion from ¥41.84 billion.

Reported net income totaled a loss of ¥985.0 million, or a loss of ¥11.73 per share, compared to a loss of ¥117.0 million, or a loss of ¥1.35 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥59.12 per share, a decline from ¥60.11 per share in the prior year.

Normalized net income was ¥5.01 billion, a decrease from ¥5.24 billion in the prior year.

Full-year total revenue amounted to ¥208.14 billion, compared with ¥209.45 billion in the prior year, and total operating expenses totaled ¥201.44 billion, compared with ¥203.05 billion in the year-earlier period.

The company said reported net income fell 5.2% year over year to ¥4.37 billion, or ¥51.59 per share, in the full year, from ¥4.61 billion, or ¥52.82 per share.

As of June 22, US$1 was equivalent to ¥104.73.