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IIJ Announces First Three Months Financial Results For The Fiscal Year Ending March 31, 2014

Stocks in this article: IIJI

TOKYO, Aug. 6, 2013 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. ("IIJ") (Nasdaq:IIJI) (TSE:3774) today announced its consolidated financial results for the first three months of the fiscal year ending March 31, 2014 (1Q13, from April 1, 2013 to June 30, 2013). 1

     
Highlights of 1Q13 Financial Results    
     
Revenues JPY26,441 million  ($266.5 million, up 6.4% YoY)
Operating Income JPY1,305 million ($13.2 million, down 5.0% YoY)
Net Income attributable to IIJ JPY954 million ($9.6 million, up 6.4% YoY)
     
▪ 1Q13 revenues increased by 6.4% YoY. Revenues for network services, systems integration and ATM operation business each continued to grow YoY.
▪1Q13 operating income decreased by 5.0% YoY. The rate of increase in SG&A expenses was larger than the rate of increase in the monthly recurring type revenues.

Overview of 1 st Quarter FY2013 Financial Results and Business Outlook

"The new fiscal year started with the 1st quarter resulted in line with our initial expectation," said Koichi Suzuki, the founder and CEO of IIJ.

"As for the business environment in the 1st quarter, we continue to see the increasing demand for systems integration and are accumulating large-scale projects continuously. Also, the demand for outsourcing enterprises' IT systems, including cloud computing services, continues to be strong. We're receiving orders of large-scale cloud transactions from certain large enterprises who are beginning to adopt cloud computing for their business process. To take advantage of these business environments, we've hired a large number of employees at the beginning of this fiscal year and they should contribute to our continuous growth in the middle term."

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