COMPUTER ENGINEERING & CONSULTING LTD., First Half Ordinary Profit Decreases by 8%, 2Q (May-July) Ordinary Profit Decreases by 21%

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Mon Sep 9, 2024 3:00 pm JST Earnings

9692 COMPUTER ENGINEERING & CONSULTING LTD. 【J-GAAP】

Earnings Report

COMPUTER ENGINEERING & CONSULTING LTD. <9692> [TSE-P] announced its financial results after the market closed on September 9th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2025 (February to July) decreased by 7.9% from the same period last year to 3.26 billion yen. However, this progress accounts for 51.9% of the full-year plan of 6.3 billion yen, almost the same as the five-year average of 50.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to January period (second half) is expected to grow by 6.0% from the same period last year, reaching 3.03 billion yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit decreased to 1.34 billion yen, a 20.8% decrease compared to the same period last year. The operating profit margin decreased from 12.7% in the same period last year to 9.8%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Feb - Jul, 2022	23,478	1,969	1,988	3,495	101.1	45.0	Sep 9, 2022	J-GAAP
Feb - Jul, 2023	26,445	3,525	3,549	2,452	73.0	55.4	Sep 8, 2023	J-GAAP
Feb - Jul, 2024	27,570	3,250	3,268	2,213	66.0	51.9	Sep 9, 2024	J-GAAP
YoY	+4.3%	-7.8%	-7.9%	-9.7%	-9.6%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	27,700	3,160	3,175	2,170	64.9	25	Mar 8, 2024	J-GAAP
Feb - Jul, 2024 Results	27,570	3,250	3,268	2,213	66.0	25	Sep 9, 2024	J-GAAP
Revision Rate	-0.5%	+2.8%	+2.9%	+2.0%	+1.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	26,679	2,836	2,860	2,089	62.2	30	Mar 8, 2024	J-GAAP
Aug - Jan, 2024 Guidance	28,930	3,030	3,032	2,087	65.1	30	Sep 9, 2024	J-GAAP
YoY	+8.4%	+6.8%	+6.0%	-0.1%	+4.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	48,206	4,374	4,413	5,179	152.0	45	Mar 10, 2023	J-GAAP
Jan, 2024	53,124	6,361	6,409	4,541	135.2	55	Mar 8, 2024	J-GAAP
Jan, 2025 Guidance	56,500	6,280	6,300	4,300	134.1	55	Mar 8, 2024	J-GAAP
YoY	+6.4%	-1.3%	-1.7%	-5.3%	-0.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	13,223	1,683	1,696	1,166	34.7	12.7	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	12,830	1,415	1,420	958	28.5	11.0	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	13,849	1,421	1,440	1,131	33.7	10.3	Mar 8, 2024	J-GAAP
Feb - Apr, 2024	14,049	1,919	1,924	1,311	39.0	13.7	Jun 7, 2024	J-GAAP
May - Jul, 2024	13,521	1,331	1,344	902	26.9	9.8	Sep 9, 2024	J-GAAP
YoY	+2.3%	-20.9%	-20.8%	-22.6%	-22.5%