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CLIP fiscal Q4 profit falls YOY

CLIP Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥29.12 per share, a decline of 28.4% from ¥40.69 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥130.6 million, a decline of 28.4% from ¥182.5 million in the year-earlier period.

The normalized profit margin declined to 13.0% from 16.0% in the year-earlier period.

Total revenue decreased 12.0% year over year to ¥1.00 billion from ¥1.14 billion, and total operating expenses declined on an annual basis to ¥813.0 million from ¥850.0 million.

Reported net income fell 17.6% on an annual basis to ¥136.0 million, or ¥30.32 per share, from ¥165.0 million, or ¥36.79 per share.

For the year, the company's normalized net income totaled ¥83.89 per share, a decrease of 26.5% from ¥114.13 per share in the prior year.

Normalized net income was ¥376.3 million, a fall of 26.5% from ¥511.9 million in the prior year.

Full-year total revenue fell 13.3% on an annual basis to ¥3.87 billion from ¥4.46 billion, and total operating expenses fell 9.8% on an annual basis to ¥3.29 billion from ¥3.65 billion.

The company said reported net income fell 26.5% year over year to ¥346.0 million, or ¥77.15 per share, in the full year, from ¥471.0 million, or ¥105.02 per share.

As of June 22, US$1 was equivalent to ¥123.23.