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Parco fiscal Q4 profit climbs 6.8% YOY

Parco Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥22.72 per share, a gain of 6.8% from ¥21.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.31 billion, a gain of 6.8% from ¥2.16 billion in the year-earlier period.

The normalized profit margin increased to 3.1% from 3.0% in the year-earlier period.

Total revenue rose year over year to ¥73.75 billion from ¥71.34 billion, and total operating expenses rose on an annual basis to ¥70.08 billion from ¥67.84 billion.

Reported net income declined 37.1% year over year to ¥1.25 billion, or ¥12.31 per share, from ¥1.99 billion, or ¥19.56 per share.

For the year, the company's normalized net income totaled ¥76.99 per share, a gain from ¥74.01 per share in the prior year.

Normalized net income was ¥7.81 billion, a gain from ¥7.51 billion in the prior year.

Full-year total revenue grew year over year to ¥274.21 billion from ¥268.29 billion, and total operating expenses increased year over year to ¥261.70 billion from ¥256.10 billion.

The company said reported net income decreased 7.1% year over year to ¥6.29 billion, or ¥62.03 per share, in the full year, from ¥6.78 billion, or ¥66.81 per share.

As of May 25, US$1 was equivalent to ¥121.48.