GiG Works Inc., Third Quarter Cumulative (November-July) Ordinary Profit Turns to Loss, 3Q (May-July) Ordinary Profit Loss Widens

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Thu Sep 12, 2024 3:00 pm JST Earnings

2375 GiG Works Inc. 【J-GAAP】

Earnings Report

GiG Works Inc. <2375> [TSE-S] announced its financial results after the market closed on September 12th (15:00). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) turned into a loss of 175 million yen (compared to a profit of 19 million yen in the same period last year).

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the August to October period (4Q) is expected to surge by 4.1 times that of the same period last year, reaching 375 million yen.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary loss expanded to a loss of 355 million yen (compared to a loss of 13 million yen in the same period last year). The operating profit/loss margin drastically worsened from -0.2% in the same period last year to -6.1%.

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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	16,063	319	352	189	9.6	73.9	Sep 9, 2022	J-GAAP
Nov - Jul, 2022	19,996	17	19	-956	-48.9	17.1	Sep 11, 2023	J-GAAP
Nov - Jul, 2023	19,325	-198	-175	-329	-16.7	ー	Sep 12, 2024	J-GAAP
YoY	-3.4%	－	－	+65.6%	+65.9%

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	12,880	84	79	-756	-38.6	4	Dec 11, 2023	J-GAAP
May - Oct, 2024 Guidance	11,359	21	20	20	1.0	5	Jun 11, 2024	J-GAAP
YoY	-11.8%	-75.0%	-74.7%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	22,932	442	476	232	11.8	8	Dec 9, 2022	J-GAAP
Oct, 2023	26,432	111	111	-718	-36.6	4	Dec 11, 2023	J-GAAP
Oct, 2024 Guidance	24,400	205	200	85	4.3	5	Dec 11, 2023	J-GAAP
YoY	-7.7%	+84.7%	+80.2%	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	6,444	-10	-13	-994	-50.8	-0.2	Sep 11, 2023	J-GAAP
Aug - Oct, 2023	6,436	94	92	238	12.1	1.5	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	6,408	101	99	30	1.6	1.6	Mar 12, 2024	J-GAAP
Feb - Apr, 2024	6,633	83	81	35	1.8	1.3	Jun 11, 2024	J-GAAP
May - Jul, 2024	6,284	-382	-355	-394	-19.9	-6.1	Sep 12, 2024	J-GAAP
YoY	-2.5%	-3,720.0%	-2,630.8%	+60.4%	+60.8%