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TheStreet Open House

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

"The 1st quarter financial results reflect ordinary seasonal factors. The fixed expenses such as personnel-related expense tend to increase as a new fiscal year begins. On the other hand, we're usually pressured to reduce monthly recurring revenues by our certain clients whose budgets renew at the beginning of fiscal year. Also, 1st quarter systems construction revenue tends to be the smallest every year. As a result, 1Q13 operating income decreased a little compared with 1Q12. Despite all these, we stay pretty optimistic as the impact was within our expectations."

"To accelerate our business development and expand further in this highly competitive market, we secured money for growth by issuing new shares, which amounted to approx. JPY17.3 billion. With this fund, we'll be able to aggressively advance our business development including M&A opportunities. The addition of Mr. Katsu as new President and COO strengthens our management abilities and thus expands our business scale. The stable business growth we've made every year has led us to where we're now and we recognized that it is the appropriate timing to increase our business investments. Through the enhancement of management structure and the equity finance, we aim to take IIJ to the next level of growth and scale," concluded Suzuki.

1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with U.S. GAAP. All financial figures are unaudited and consolidated. The translation of Japanese yen into U.S. dollars is solely for the convenience of readers outside of Japan. The rate used for the translation was JPY99.21 per US$1.00, which was the noon buying rate on June 28, 2013.

1 st Quarter FY2013 Financial Results Summary
Operating Results Summary
  1Q12 1Q13  YoY % Change
  JPY millions JPY millions  
Total Revenues 24,841 26,441 6.4
Network Services 16,091 16,785 4.3
Systems Integration (SI) 7,952 8,692 9.3
Equipment Sales 330 319 (3.6)
ATM Operation Business 468 645 37.9
Total Costs 20,022 21,411 6.9
Network Services 12,764 13,242 3.7
Systems Integration (SI) 6,564 7,350 12.0
Equipment Sales 273 284 4.3
ATM Operation Business 421 535 27.1
SG&A Expenses and R&D 3,445 3,725 8.1
Operating Income 1,374 1,305 (5.0)
Income before Income Tax Expense 1,373 1,431 4.2
Net Income attributable to IIJ 897 954 6.4
Segment Results Summary
  1Q12 1Q13
  JPY millions JPY millions
Total Revenues 24,841 26,441
Network Services and SI Business 24,510 25,939
ATM Operation Business 468 645
Elimination 137 143
Operating Income 1,374 1,305
Network Service and SI Business 1,393 1,255
ATM Operation Business 16 81
Elimination 35 31

We have omitted segment analysis because most of our revenues are dominated by Network services and Systems Integration (SI) business.

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