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Lapine Co. Ltd. fiscal Q4 loss narrows YOY

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Lapine Co. Ltd. fiscal Q4 loss narrows YOY

Lapine Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was a loss of ¥62.43 per share, compared with a loss of ¥76.83 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 ¥145.0 million, compared with a loss of ¥178.8 million in the year-earlier period.

The normalized profit margin climbed to negative 5.3% from negative 6.4% in the year-earlier period.

Total revenue decreased on an annual basis to ¥2.76 billion from ¥2.79 billion, and total operating expenses declined from the prior-year period to ¥2.99 billion from ¥3.07 billion.

Reported net income totaled a loss of ¥253.2 million, or a loss of ¥108.93 per share, compared to a loss of ¥293.7 million, or a loss of ¥126.36 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥43.25 per share, a gain of 17.5% from ¥36.82 per share in the prior year.

Normalized net income was ¥101.9 million, a rise of 17.3% from ¥86.9 million in the prior year.

Full-year total revenue totaled ¥11.36 billion, compared with ¥11.47 billion in the prior year, and total operating expenses came to ¥11.21 billion, compared with ¥11.32 billion in the year-earlier period.

The company said reported net income fell 28.3% year over year to ¥106.5 million, or ¥45.20 per share, in the full year, from ¥148.4 million, or ¥62.90 per share.

As of May 28, US$1 was equivalent to ¥124.24.