Aida Engineering revised down its ordinary profit forecast for the current fiscal year after the market close on 13 November. Ordinary profit for the April-September period fell sharply to ¥1.21 billion, and the full-year forecast was cut to ¥4.4 billion.
Aida Engineering released its earnings summary report and revised its ordinary profit forecast for the current fiscal year down 26.7%, changing from the previous forecast of ¥6.0 billion to ¥4.4 billion. The outlook is now for lower profit than in the same period a year earlier, with profit for the current fiscal year expected to decline 23.3%.
Consolidated ordinary profit for the most recent July-September quarter (2Q) was ¥410 million, down 76.4% from the same period a year earlier. The operating profit margin on sales also fell sharply from 9.0% to 2.5%.
Through 2Q, the company reported sales of ¥37,506 million, operating profit of ¥2,881 million, ordinary profit of ¥2,685 million and net income of ¥2,346 million. As for the outlook for the second half, ordinary profit for the October-March period is estimated at approximately ¥3.18 billion.
The revised full-year metrics include revised earnings per share and dividend figures, and the decline in profit is expected to be larger than under the previous forecast. Additional disclosure will be needed regarding future earnings announcements and whether an upward revision will be made.