FINDEX Inc., July-September (3Q) Ordinary Profit Decreases by 54%

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Wed Nov 13, 2024 3:30 pm JST Earnings

3649 FINDEX Inc. 【J-GAAP】

Earnings Report

FINDEX Inc. <3649> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 1.13 billion yen, an increase of 38.0% compared to the same period last year. However, The progress rate against the 1.59 billion yen full-year plan was 71.2%, also falling below the five-year average of 75.3%.

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 drop by 35.1% from the same period last year to 459 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 187 million yen, a 53.9% decrease compared to the same period last year. The operating profit margin significantly dropped from 32.6% in the same period last year to 16.7%.

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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	2,999	488	523	349	13.7	49.6	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	3,474	796	820	567	22.1	53.7	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	4,310	1,125	1,132	831	32.4	71.2	Nov 13, 2024	J-GAAP
YoY	+24.1%	+41.3%	+38.0%	+46.6%	+46.5%

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	2,942	1,099	1,113	776	30.3	9	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,577	634	646	396	15.4	8	Jul 26, 2024	J-GAAP
YoY	-12.4%	-42.3%	-42.0%	-49.0%	-49.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	4,541	1,028	1,055	722	28.2	9.50	Feb 13, 2023	J-GAAP
Dec, 2023	5,191	1,496	1,527	1,059	41.3	13	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	5,782	1,574	1,591	1,097	42.7	15	Feb 13, 2024	J-GAAP
YoY	+11.4%	+5.2%	+4.2%	+3.6%	+3.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,225	399	406	284	11.1	32.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	1,717	700	707	492	19.2	40.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	2,124	862	865	642	25.1	40.6	May 14, 2024	J-GAAP
Apr - Jun, 2024	1,081	78	80	59	2.3	7.2	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	1,105	185	187	130	5.1	16.7	Nov 13, 2024	J-GAAP
YoY	-9.8%	-53.6%	-53.9%	-54.2%	-54.2%