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LEC,INC., First Half Ordinary Profit Increases by 51%

Fri Nov 8, 2024 4:30 pm JST Earnings

7874 LEC,INC. 【J-GAAP】

Earnings Report

LEC,INC. <7874> [TSE-P] announced its financial results after the market closed on November 8th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 1.56 billion yen, an increase of 51.1% compared to the same period last year, exceeded the previous forecast of 1.2 billion yen.

The progress rate against the 1.65 billion yen full-year plan was 95.0%, also surpassing the five-year average of 76.1%.

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 October to March period (second half) is expected to significant drop by 87.4% from the same period last year to 82 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 20.8% from the same period last year, reaching 429 million yen. However, the operating profit margin remained almost flat, changing from 2.2% in the same period last year to 2.1%.

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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
Apr - Sep, 2022 26,819 1,385 1,298 1,290 37.4 120.0 Nov 11, 2022 J-GAAP
Apr - Sep, 2023 29,688 936 1,038 474 13.7 61.5 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 32,693 1,230 1,568 1,121 32.8 95.0 Nov 8, 2024 J-GAAP
YoY +10.1% +31.4% +51.1% +136.5% +139.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 31,600 1,000 1,200 820 26.3 10 Aug 9, 2024 J-GAAP
Apr - Sep, 2024 Results 32,693 1,230 1,568 1,121 32.8 10 Nov 8, 2024 J-GAAP
Revision Rate +3.5% +23.0% +30.7% +36.7% +24.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 31,095 692 649 322 9.3 10 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 31,307 270 82 -121 -3.7 10 Nov 8, 2024 J-GAAP
YoY +0.7% -61.0% -87.4% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 55,461 911 1,082 942 27.2 20 May 12, 2023 J-GAAP
Mar, 2024 60,783 1,628 1,687 796 22.9 20 May 10, 2024 J-GAAP
Mar, 2025 Guidance 64,000 1,500 1,650 1,000 30.8 20 Aug 9, 2024 J-GAAP
YoY +5.3% -7.9% -2.2% +25.6% +34.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 14,827 325 355 110 3.2 2.2 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 16,706 1,060 1,055 550 15.8 6.3 Feb 9, 2024 J-GAAP
Jan - Mar, 2024 14,389 -368 -406 -228 -6.6 -2.6 May 10, 2024 J-GAAP
Apr - Jun, 2024 16,104 886 1,139 811 23.3 5.5 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 16,589 344 429 310 9.1 2.1 Nov 8, 2024 J-GAAP
YoY +11.9% +5.8% +20.8% +181.8% +185.8%

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