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WDI Corp. swings to profit in fiscal Q4

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WDI Corp. swings to profit in fiscal Q4

WDI Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥7.17 per share, compared with a loss of ¥1.60 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.4 million, compared with a loss of ¥10.1 million in the prior-year period.

The normalized profit margin climbed to 0.7% from negative 0.2% in the year-earlier period.

Total revenue grew 18.1% on an annual basis to ¥6.13 billion from ¥5.19 billion, and total operating expenses climbed 15.0% on an annual basis to ¥5.91 billion from ¥5.14 billion.

Reported net income came to a loss of ¥145.0 million, or a loss of ¥22.90 per share, compared to a loss of ¥65.0 million, or a loss of ¥10.27 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥49.06 per share, an increase of 24.3% from ¥39.47 per share in the prior year.

Normalized net income was ¥310.6 million, a rise of 24.3% from ¥249.9 million in the prior year.

Full-year total revenue rose 16.8% year over year to ¥23.69 billion from ¥20.29 billion, and total operating expenses increased 15.3% year over year to ¥22.80 billion from ¥19.78 billion.

The company said reported net income rose 28.2% on an annual basis to ¥141.0 million, or ¥22.27 per share, in the full year, from ¥110.0 million, or ¥17.37 per share.

As of June 24, US$1 was equivalent to ¥124.31.