KITAC CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward by 55%

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Fri Aug 30, 2024 3:00 pm JST Earnings

4707 KITAC CORPORATION 【J-GAAP】

Earnings Report

KITAC CORPORATION <4707> [TSE-S] announced its financial results after the market closed on August 30th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) surged by 2.9 times that of the same period last year, reaching 282 million yen.

The full-year consolidated ordinary profit has been revised upward by 54.7%, from the previous forecast of 223 million yen to 345 million yen (compared to 185 million yen in the previous period), increasing the growth rate from 20.5% to 86.5%..

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the May to October period (second half) has been revised upward from an expected loss of 27 million yen to 95 million yen (compared to 53 million yen in the same period of the previous year), turning to a profit and leading to a 79.2% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit/loss turned to a profit of 32 million yen (compared to a loss of 34 million yen in the same period last year). The operating profit/loss margin drastically improved from -9.6% in the same period last year to 1.7%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Nov - Jul, 2021	1,897	-29	21	3	0.7	15.3	Aug 26, 2022	J-GAAP
Nov - Jul, 2022	2,043	75	98	55	10.0	53.0	Aug 25, 2023	J-GAAP
Nov - Jul, 2023	2,327	248	282	192	34.3	81.7	Aug 30, 2024	J-GAAP
YoY	+13.9%	+230.7%	+187.8%	+249.1%	+244.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Prev	1,416	-24	-27	-24	-4.3	5	May 24, 2024	J-GAAP
May - Oct, 2024 New	1,615	74	95	59	10.5	5	Aug 30, 2024	J-GAAP
Revision Rate	+14.1%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2024 Prev	3,051	212	223	147	26.3	5	Dec 1, 2023	J-GAAP
Oct, 2024 New	3,250	310	345	230	41.1	5	Aug 30, 2024	J-GAAP
Revision Rate	+6.5%	+46.2%	+54.7%	+56.5%	+56.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2023	1,412	36	53	91	16.3	5	Dec 1, 2023	J-GAAP
May - Oct, 2024 Guidance	1,615	74	95	59	10.5	5	Aug 30, 2024	J-GAAP
YoY	+14.4%	+105.6%	+79.2%	-35.2%	-35.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	2,701	77	137	90	16.2	5	Dec 2, 2022	J-GAAP
Oct, 2023	2,881	166	185	173	31.0	5	Dec 1, 2023	J-GAAP
Oct, 2024 Guidance	3,250	310	345	230	41.1	5	Aug 30, 2024	J-GAAP
YoY	+12.8%	+86.7%	+86.5%	+32.9%	+32.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	574	-55	-34	-27	-4.9	-9.6	Aug 25, 2023	J-GAAP
Aug - Oct, 2023	838	91	87	118	21.1	10.9	Dec 1, 2023	J-GAAP
Nov - Jan, 2023	786	122	124	85	15.2	15.5	Feb 22, 2024	J-GAAP
Feb - Apr, 2024	849	114	126	86	15.4	13.4	May 24, 2024	J-GAAP
May - Jul, 2024	692	12	32	21	3.8	1.7	Aug 30, 2024	J-GAAP
YoY	+20.6%	－	－	－	－