COMPUTER ENGINEERING & CONSULTING, The Current Fiscal Year Net Income Revised Downward by 14%

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Mon Dec 9, 2024 3:30 pm JST Earnings

9692 COMPUTER ENGINEERING & CONSULTING LTD. 【J-GAAP】

Earnings Report

COMPUTER ENGINEERING & CONSULTING LTD. <9692> [TSE Prime] announced its financial results after the market closed on December 9th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending January 2025 (February to October) decreased 3.9% from the same period last year to 3.27 billion yen.

In addition, the full-year consolidated net income has downwardly 14.0%, from the previous forecast of 4.3 billion yen to 3.7 billion yen (compared to 4.54 billion yen in the previous period), leading to an increase in the profit decline rate from 5.3% to 18.5%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the August to January period (second half) has downwardly 28.7%, from the previous forecast of 2.08 billion yen to 1.48 billion yen (compared to 2.08 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 0.1% to 28.8%.

In the most recent three-month period, from August to October (3Q), the consolidated net income grew 11.1% from the same period last year, reaching 1.06 billion yen. The operating profit margin rose from 11.0% in the same period last year to 11.3%.

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
Feb - Oct, 2022	35,288	3,277	3,296	4,381	127.9	74.7	Dec 9, 2022	J-GAAP
Feb - Oct, 2023	39,275	4,940	4,969	3,410	101.5	77.5	Dec 11, 2023	J-GAAP
Feb - Oct, 2024	41,223	4,794	4,820	3,277	98.5	76.5	Dec 9, 2024	J-GAAP
YoY	+5.0%	-3.0%	-3.0%	-3.9%	-3.0%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2024 Prev	28,930	3,030	3,032	2,087	65.1	30	Sep 9, 2024	J-GAAP
Aug - Jan, 2024 New	28,930	3,030	3,032	1,487	46.4	30	Dec 9, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-28.7%	-28.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2025 Prev	56,500	6,280	6,300	4,300	134.1	55	Mar 8, 2024	J-GAAP
Jan, 2025 New	56,500	6,280	6,300	3,700	115.4	55	Dec 9, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	-14.0%	-14.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	26,679	2,836	2,860	2,089	62.2	30	Mar 8, 2024	J-GAAP
Aug - Jan, 2024 Guidance	28,930	3,030	3,032	1,487	46.4	30	Dec 9, 2024	J-GAAP
YoY	+8.4%	+6.8%	+6.0%	-28.8%	-25.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	48,206	4,374	4,413	5,179	152.0	45	Mar 10, 2023	J-GAAP
Jan, 2024	53,124	6,361	6,409	4,541	135.2	55	Mar 8, 2024	J-GAAP
Jan, 2025 Guidance	56,500	6,280	6,300	3,700	115.4	55	Dec 9, 2024	J-GAAP
YoY	+6.4%	-1.3%	-1.7%	-18.5%	-14.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	12,830	1,415	1,420	958	28.5	11.0	Dec 11, 2023	J-GAAP
Nov - Jan, 2023	13,849	1,421	1,440	1,131	33.7	10.3	Mar 8, 2024	J-GAAP
Feb - Apr, 2024	14,049	1,919	1,924	1,311	39.0	13.7	Jun 7, 2024	J-GAAP
May - Jul, 2024	13,521	1,331	1,344	902	26.9	9.8	Sep 9, 2024	J-GAAP
Aug - Oct, 2024	13,653	1,544	1,552	1,064	32.0	11.3	Dec 9, 2024	J-GAAP
YoY	+6.4%	+9.1%	+9.3%	+11.1%	+12.1%