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ICOM INCORPORATED, First Half Ordinary Profit Decreases by 41%

Tue Nov 12, 2024 3:30 pm JST Earnings

6820 ICOM INCORPORATED 【J-GAAP】

Earnings Report

ICOM INCORPORATED <6820> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.8% from the same period last year to 1.46 billion yen, fell short of the previous forecast of 1.74 billion yen.

The progress rate against the 3.8 billion yen full-year plan was 38.6%, also falling below the five-year average of 45.9%.

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 grow by 20.4% from the same period last year, reaching 2.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 165 million yen, a 83.0% decrease compared to the same period last year. However, the operating profit margin improved from 7.6% in the same period last year to 8.8%.

Kabutan News

Actual Performance and Financial Trends

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 		16,356M 850M 1,582M 1,197M 83.5 48.5 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 		18,099M 1,601M 2,478M 1,822M 127.0 56.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 		17,898M 1,607M 1,466M 1,050M 73.2 38.6 Nov 12, 2024 J-GAAP
YoY -1.1% +0.4% -40.8% -42.4% -42.4%
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 18,400M 1,570M 1,740M 1,280M 89.2 25 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 17,898M 1,607M 1,466M 1,050M 73.2 25 Nov 12, 2024 J-GAAP
Revision Rate -2.7% +2.4% -15.7% -18.0% -17.9%

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 		19,018M 1,814M 1,938M 1,639M 114.2 72 May 14, 2024 J-GAAP
Guidance
Oct - Mar, 2024 		20,102M 1,893M 2,334M 1,750M 121.9 54 Nov 12, 2024 J-GAAP
YoY +5.7% +4.4% +20.4% +6.8% +6.8%
Current Period Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Mar, 2023 		34,173M 2,850M 3,262M 2,574M 179.4 72 May 11, 2023 J-GAAP
Mar, 2024 		37,117M 3,415M 4,416M 3,461M 241.2 97 May 14, 2024 J-GAAP
Guidance
Mar, 2025 		38,000M 3,500M 3,800M 2,800M 195.1 79 May 14, 2024 J-GAAP
YoY +2.4% +2.5% -13.9% -19.1% -19.1%

Quarterly Results

Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Operating
Profit Margin		 Announce Accounting
Standards
Jul - Sep, 2023 		9,443M 718M 968M 685M 47.7 7.6 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 		9,479M 1,253M 1,029M 755M 52.6 13.2 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 		9,539M 561M 909M 884M 61.6 5.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 		8,786M 804M 1,301M 937M 65.4 9.2 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 		9,112M 803M 165M 113M 7.9 8.8 Nov 12, 2024 J-GAAP
YoY -3.5% +11.8% -83.0% -83.5% -83.5%

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