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ALPHA SYSTEMS INC., First Half Ordinary Profit Unexpectedly Revised Upward by 6%

Fri Nov 8, 2024 4:00 pm JST Earnings

4719 ALPHA SYSTEMS INC. 【J-GAAP】

Earnings Report

ALPHA SYSTEMS INC. <4719> [TSE-P] announced its financial results after the market closed on November 8th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 6.5% from the same period last year, reaching 2.17 billion yen, resulting in an increase in profits compared to the previous forecast of a 4.9% decrease.

The progress rate against the 4.48 billion yen full-year plan was 48.5%, almost the same as the five-year average of 46.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease by 3.1% from the same period last year to 2.3 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit amounted to 1.2 billion yen, an increase of 2.1% compared to the same period last year. However, the operating profit margin remained almost flat, changing from 12.6% in the same period last year to 12.6%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 17,387 2,059 2,091 1,432 102.0 48.9 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 17,653 2,003 2,039 1,384 98.6 46.1 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 18,139 2,110 2,171 1,475 105.1 48.5 Nov 8, 2024 J-GAAP
YoY +2.8% +5.3% +6.5% +6.6% +6.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 17,900 1,900 1,940 1,320 94.0 50 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 18,139 2,110 2,171 1,475 105.1 50 Nov 8, 2024 J-GAAP
Revision Rate +1.3% +11.1% +11.9% +11.7% +11.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 18,730 2,345 2,383 1,661 118.3 65 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 19,361 2,290 2,309 1,575 112.2 50 Nov 8, 2024 J-GAAP
YoY +3.4% -2.3% -3.1% -5.2% -5.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 35,548 4,213 4,279 2,918 207.9 70 May 12, 2023 J-GAAP
Mar, 2024 36,383 4,348 4,422 3,045 216.9 100 May 13, 2024 J-GAAP
Mar, 2025 Guidance 37,500 4,400 4,480 3,050 217.3 100 May 13, 2024 J-GAAP
YoY +3.1% +1.2% +1.3% +0.2% +0.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,168 1,158 1,176 803 57.2 12.6 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 9,186 1,378 1,396 951 67.8 15.0 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 9,544 967 987 710 50.6 10.1 May 13, 2024 J-GAAP
Apr - Jun, 2024 8,900 948 970 657 46.8 10.7 Aug 5, 2024 J-GAAP
Jul - Sep, 2024 9,239 1,162 1,201 818 58.3 12.6 Nov 8, 2024 J-GAAP
YoY +0.8% +0.3% +2.1% +1.9% +1.9%

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