CTI Engineering Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 12%, July-September Ordinary Profit Decreases by 51%

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Tue Nov 12, 2024 3:30 pm JST Earnings

9621 CTI Engineering Co.,Ltd. 【J-GAAP】

Earnings Report

CTI Engineering Co.,Ltd. <9621> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 12.1% from the same period last year to 7.42 billion yen. However, The progress rate against the 9.7 billion yen full-year plan was 76.5%, almost the same as the five-year average of 77.9%.

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 October to December period (4Q) is expected to expand by 32.9% from the same period last year, reaching 2.27 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 568 million yen, a 50.7% decrease compared to the same period last year. The operating profit margin worsened from 5.4% in the same period last year to 2.9%.

Kabutan News

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
Jan - Sep, 2022	61,446	6,513	6,689	4,516	159.7	81.2	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	69,015	8,331	8,438	6,122	220.1	83.1	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	72,197	7,419	7,421	5,266	189.8	76.5	Nov 12, 2024	J-GAAP
YoY	+4.6%	-10.9%	-12.1%	-14.0%	-13.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	45,434	2,845	2,866	2,245	80.8	75	Mar 26, 2024	J-GAAP
Jul - Dec, 2024 Guidance	46,254	2,811	2,847	2,017	72.7	75	Aug 13, 2024	J-GAAP
YoY	+1.8%	-1.2%	-0.7%	-10.2%	-10.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	83,485	8,017	8,235	5,874	207.8	50	Feb 14, 2023	J-GAAP
Dec, 2023	93,057	10,011	10,153	7,534	271.1	75	Mar 26, 2024	J-GAAP
Dec, 2024 Guidance	97,000	9,600	9,700	6,900	248.6	75	Aug 13, 2024	J-GAAP
YoY	+4.2%	-4.1%	-4.5%	-8.4%	-8.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	21,392	1,165	1,151	833	30.0	5.4	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	24,042	1,680	1,715	1,412	50.8	7.0	Mar 26, 2024	J-GAAP
Jan - Mar, 2024	29,189	6,107	6,104	4,437	160.0	20.9	May 13, 2024	J-GAAP
Apr - Jun, 2024	21,557	682	749	446	16.1	3.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	21,451	630	568	383	13.8	2.9	Nov 12, 2024	J-GAAP
YoY	+0.3%	-45.9%	-50.7%	-54.0%	-53.9%