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

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%

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