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IIJ Announces Nine Months Financial Results For The Fiscal Year Ending March 31, 2013

The order backlog for systems construction and equipment sales was JPY5,333 million, down 7.1% YoY. The order backlog for systems operation and maintenance was JPY14,917 million, up 14.4% YoY.

Equipment sales revenues were JPY867 million, down 1.3% YoY.

ATM Operation Business revenues were JPY1,707 million, up 85.0% YoY, along with the increase in the numbers of ATMs newly placed. As of February 8, 2013, 593 ATMs are placed.

Cost and expense

Cost of revenues was JPY61,165 million, up 8.0% YoY.

Cost of Network Services revenue was JPY37,972 million, up 1.0% YoY mainly due to the increase in outsourcing-related costs, personnel-related costs and network operation-related costs. Gross margin for network services was JPY10,543 million, up 9.2% YoY and gross margin ratio was 21.7%, up 1.3  points YoY.

Cost of SI revenues was JPY20,994 million, up 21.6% YoY. The increases of purchasing costs, some portion of outsourcing-related costs and personnel-related costs are in the relation to the increase in systems construction revenues. Gross margin for SI was JPY4,608 million, up 3.7% YoY and gross margin ratio was 18.0%, down 2.5 points YoY.

Cost of Equipment Sales revenues was JPY749 million, down 4.7% YoY. Gross margin was JPY118 million and gross margin ratio was 13.6%, up 3.1 points YoY.

Cost of ATM Operation Business revenues was JPY1,450 million, up 43.2% YoY mainly due to the increase in the number of newly placed ATMs. Gross margin was JPY256 million compared to gross loss of JPY91 million for 3Q11, and gross margin ratio was 15.0%.

SG&A and R&D Expenses

SG&A and R&D expenses in total were JPY10,482million, up 3.8% YoY.

Sales and marketing expenses were JPY6,031 million, up 1.5% YoY, mainly due to the increase in advertizing expenses. Amortization expenses of customer relationship related to IIJ Global Solutions Inc. was JPY275 million, slightly decreased from JPY319 million in 3Q11.

General and administrative expenses were JPY4,147 million, up 5.8% YoY. The increase was mainly due to the increase in personnel-related expenses.

Research and development expenses were JPY304 million, up 27.0% YoY.

Operating income

Operating income was JPY5,043 million, up 26.1% YoY mainly because gross margin of each revenue line increased.

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