CROSS PLUS, Feb-Oct (Third Quarter Cumulative) Ordinary Profit Decreases by 29%, Exceeds Full-Year Plan

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Fri Dec 13, 2024 3:30 pm JST Earnings

3320 CROSS PLUS INC. 【J-GAAP】

Earnings Report

CROSS PLUS INC. <3320> [TSE Std] announced its financial results after the market closed on December 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) decreased 28.8% from the same period last year to 1.53 billion yen. The progress rate toward the full-year plan of 1.35 billion yen is 113.3%, but was lower than the the five-year average of 120.5%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the November to January period (4Q) is expected to nearly flat at loss of 180 million yen (compared to a loss of 174 million yen in the same period last year).

In the most recent three-month period, from August to October (3Q), the consolidated ordinary profit dropped to 533 million yen, a 46.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.5% in the same period last year to 2.3%.

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	42,798	484	683	824	112.5	165.4	Dec 9, 2022	J-GAAP
Feb - Oct, 2023	45,330	2,023	2,148	2,124	289.0	108.8	Dec 8, 2023	J-GAAP
Feb - Oct, 2024	47,310	1,308	1,530	1,215	164.6	113.3	Dec 13, 2024	J-GAAP
YoY	+4.4%	-35.3%	-28.8%	-42.8%	-43.0%

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	32,643	756	830	810	110.1	15	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	32,384	307	353	346	46.8	15	Sep 13, 2024	J-GAAP
YoY	-0.8%	-59.4%	-57.5%	-57.3%	-57.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	57,056	183	413	455	62.1	12	Mar 17, 2023	J-GAAP
Jan, 2024	60,190	1,797	1,974	2,064	280.5	27	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	62,000	1,200	1,350	1,100	148.7	30	Mar 15, 2024	J-GAAP
YoY	+3.0%	-33.2%	-31.6%	-46.7%	-47.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Aug - Oct, 2023	17,783	982	1,004	870	118.4	5.5	Dec 8, 2023	J-GAAP
Nov - Jan, 2023	14,860	-226	-174	-60	-8.2	-1.5	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	15,734	738	759	506	68.7	4.7	Jun 14, 2024	J-GAAP
May - Jul, 2024	13,882	155	238	248	33.6	1.1	Sep 13, 2024	J-GAAP
Aug - Oct, 2024	17,694	415	533	461	62.5	2.3	Dec 13, 2024	J-GAAP
YoY	-0.5%	-57.7%	-46.9%	-47.0%	-47.2%