ICOM INCORPORATED, First Half Ordinary Profit Decreases by 41%

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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%.

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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	16,356	850	1,582	1,197	83.5	48.5	Nov 10, 2022	J-GAAP
Apr - Sep, 2023	18,099	1,601	2,478	1,822	127.0	56.1	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	17,898	1,607	1,466	1,050	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	18,400	1,570	1,740	1,280	89.2	25	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	17,898	1,607	1,466	1,050	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	19,018	1,814	1,938	1,639	114.2	72	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	20,102	1,893	2,334	1,750	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	34,173	2,850	3,262	2,574	179.4	72	May 11, 2023	J-GAAP
Mar, 2024	37,117	3,415	4,416	3,461	241.2	97	May 14, 2024	J-GAAP
Mar, 2025 Guidance	38,000	3,500	3,800	2,800	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	9,443	718	968	685	47.7	7.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	9,479	1,253	1,029	755	52.6	13.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	9,539	561	909	884	61.6	5.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	8,786	804	1,301	937	65.4	9.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	9,112	803	165	113	7.9	8.8	Nov 12, 2024	J-GAAP
YoY	-3.5%	+11.8%	-83.0%	-83.5%	-83.5%