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GMB Corp. swings to loss in fiscal Q4

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GMB Corp. swings to loss in fiscal Q4

GMB Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 62 Japanese sen per share, compared with ¥13.62 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 ¥3.3 million, compared with income of ¥71.0 million in the year-earlier period.

The normalized profit margin dropped to negative 0.0% from 0.4% in the year-earlier period.

Total revenue rose 8.7% year over year to ¥17.45 billion from ¥16.05 billion, and total operating expenses rose 12.2% year over year to ¥17.21 billion from ¥15.33 billion.

Reported net income came to a loss of ¥148.0 million, or a loss of ¥28.40 per share, compared to income of ¥194.0 million, or ¥37.23 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥90.79 per share, a fall of 31.1% from ¥131.80 per share in the prior year.

Normalized net income was ¥473.1 million, a decline of 31.1% from ¥686.9 million in the prior year.

Full-year total revenue increased 10.6% on an annual basis to ¥64.86 billion from ¥58.66 billion, and total operating expenses rose 11.9% on an annual basis to ¥63.26 billion from ¥56.55 billion.

The company said reported net income fell 58.7% year over year to ¥364.0 million, or ¥69.85 per share, in the full year, from ¥881.0 million, or ¥169.05 per share.

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