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ICOM INCORPORATED, First Half Ordinary Profit Decreases by 41%

Tue Nov 12, 2024 3:30 pm JST Earnings

6820 ICOM INCORPORATED 【J-GAAP】

Earnings Report

ICOM INCORPORATED <6820> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.8% from the same period last year to 1.46 billion yen, fell short of the previous forecast of 1.74 billion yen.

The progress rate against the 3.8 billion yen full-year plan was 38.6%, also falling below the five-year average of 45.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow by 20.4% from the same period last year, reaching 2.33 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 165 million yen, a 83.0% decrease compared to the same period last year. However, the operating profit margin improved from 7.6% in the same period last year to 8.8%.

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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 16,356 850 1,582 1,197 83.5 48.5 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 18,099 1,601 2,478 1,822 127.0 56.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 17,898 1,607 1,466 1,050 73.2 38.6 Nov 12, 2024 J-GAAP
YoY -1.1% +0.4% -40.8% -42.4% -42.4%

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 18,400 1,570 1,740 1,280 89.2 25 May 14, 2024 J-GAAP
Apr - Sep, 2024 Results 17,898 1,607 1,466 1,050 73.2 25 Nov 12, 2024 J-GAAP
Revision Rate -2.7% +2.4% -15.7% -18.0% -17.9%

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 19,018 1,814 1,938 1,639 114.2 72 May 14, 2024 J-GAAP
Oct - Mar, 2024 Guidance 20,102 1,893 2,334 1,750 121.9 54 Nov 12, 2024 J-GAAP
YoY +5.7% +4.4% +20.4% +6.8% +6.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 34,173 2,850 3,262 2,574 179.4 72 May 11, 2023 J-GAAP
Mar, 2024 37,117 3,415 4,416 3,461 241.2 97 May 14, 2024 J-GAAP
Mar, 2025 Guidance 38,000 3,500 3,800 2,800 195.1 79 May 14, 2024 J-GAAP
YoY +2.4% +2.5% -13.9% -19.1% -19.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 9,443 718 968 685 47.7 7.6 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 9,479 1,253 1,029 755 52.6 13.2 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 9,539 561 909 884 61.6 5.9 May 14, 2024 J-GAAP
Apr - Jun, 2024 8,786 804 1,301 937 65.4 9.2 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 9,112 803 165 113 7.9 8.8 Nov 12, 2024 J-GAAP
YoY -3.5% +11.8% -83.0% -83.5% -83.5%

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