WirelessGate, Inc., The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 33% Increase

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Wed Nov 13, 2024 3:30 pm JST Earnings

9419 WirelessGate, Inc. 【J-GAAP】

Earnings Report

WirelessGate, Inc. <9419> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) surged by 2.0 times that of the same period last year, reaching 303 million yen.

In addition, the full-year ordinary profit has been revised upward by 85.2%, from the previous forecast of 162 million yen to 300 million yen (compared to 225 million yen in the previous period), turning to a 33.3% increase in the ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the ordinary profit for the July to December period (second half) has been revised upward from an expected loss of 48 million yen to a profit of 90 million yen (compared to a profit of 162 million yen in the same period of the previous year), turning to a profit.

In the most recent three-month period, from July to September (3Q), the ordinary profit grew by 6.9% from the same period last year, reaching 93 million yen. The operating profit margin improved from 4.1% in the same period last year to 4.5%.

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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
Jan - Sep, 2022	6,409	166	84	60	5.6	8,400.0	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	6,368	150	150	158	14.8	66.7	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	6,387	308	303	314	29.1	101.0	Nov 13, 2024	J-GAAP
YoY	+0.3%	+105.3%	+102.0%	+98.7%	+96.8%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	4,463	-52	-48	-32	-2.9	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	4,222	86	90	90	8.3	0	Nov 13, 2024	J-GAAP
Revision Rate	-5.4%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	8,741	162	162	178	16.4	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	8,500	300	300	300	27.6	0	Nov 13, 2024	J-GAAP
Revision Rate	-2.8%	+85.2%	+85.2%	+68.5%	+68.6%

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	4,217	161	162	149	13.9	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	4,222	86	90	90	8.3	0	Nov 13, 2024	J-GAAP
YoY	+0.1%	-46.6%	-44.4%	-39.6%	-40.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	8,531	191	1	26	2.4	0	Feb 14, 2023	J-GAAP
Dec, 2023	8,483	224	225	241	22.5	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	8,500	300	300	300	27.6	0	Nov 13, 2024	J-GAAP
YoY	+0.2%	+33.9%	+33.3%	+24.5%	+22.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,102	87	87	66	6.2	4.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	2,115	74	75	83	7.7	3.5	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,116	86	82	72	6.7	4.1	May 13, 2024	J-GAAP
Apr - Jun, 2024	2,162	128	128	138	12.9	5.9	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	2,109	94	93	104	9.6	4.5	Nov 13, 2024	J-GAAP
YoY	+0.3%	+8.0%	+6.9%	+57.6%	+56.0%