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

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% － － － －

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