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Endo Manufacturing swings to loss in fiscal Q4

Endo Manufacturing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥1.79 per share, compared with ¥15.25 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 ¥15.6 million, compared with income of ¥133.1 million in the prior-year period.

The normalized profit margin dropped to negative 0.6% from 3.9% in the year-earlier period.

Total revenue decreased 21.7% year over year to ¥2.68 billion from ¥3.42 billion, and total operating expenses decreased 18.2% on an annual basis to ¥2.72 billion from ¥3.32 billion.

Reported net income came to a loss of ¥204.0 million, or a loss of ¥23.37 per share, compared to a loss of ¥22.0 million, or a loss of ¥2.52 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥64.08 per share, a gain from ¥27.92 per share in the prior year.

Normalized net income was ¥559.4 million, a rise from ¥243.8 million in the prior year.

Full-year total revenue declined 8.9% year over year to ¥12.59 billion from ¥13.81 billion, and total operating expenses fell 14.0% on an annual basis to ¥11.76 billion from ¥13.68 billion.

The company said reported net income came to a loss of ¥4.0 million, or a loss of 46 sen per share, in the full year, compared with a loss of ¥301.0 million, or a loss of ¥34.48 per share, the prior year.

As of June 28, US$1 was equivalent to ¥102.79.