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

Stocks in this article: IIJI

TOKYO, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. ("IIJ") (Nasdaq:IIJI) (TSE:3774) today announced its consolidated financial results for the first six months of the fiscal year ending March 31, 2014 (from April 1, 2013 to September 30, 2013, "1H FY2013," "1H13"). 1

Highlights of 1H FY2013 Financial Results    
Revenues JPY54,397 million ($553 million, up 6.4% YoY)
Operating Income JPY3,009 million ($31 million, down 7.8% YoY)
Net Income attributable to IIJ JPY2,205 million ($22 million, up 9.9% YoY)
▪ 1H13 revenues increased by 6.4% YoY due to the revenue growth in network services, systems integration and ATM operation business.    
▪ 1H13 operating income decreased by 7.8% YoY mainly due to the increase in SG&A expenses along with business expansion.    
▪ 1H13 net income attributable to IIJ increased by 9.9% YoY due to the increase in non-operating income.    

Overview of 1H FY2013 Financial Results and Business Outlook

"Overall, our surrounding business environment continues to be solid. We're seeing increasing systems integration demand among Japanese companies this fiscal year. IT investment has been withheld since the Lehman Shock, yet with Abenomics, they're now more inclined to invest in IT. The demand for disaster recovery systems, renewing existing systems, adopting cloud services and so on is on the rise," said Koichi Suzuki, Chairman and CEO of IIJ.

"As the concept of cloud computing has received wide recognition, Japanese blue-chip companies are beginning to look at their IT systems differently," followed Eijiro Katsu, President and COO of IIJ. "The shift from owning heavy IT assets to using cloud services is a great business opportunity for us as cloud requires our strengths: reliable and secure network and system operation. We're continuously expanding our enterprise cloud service lineups to support such transition. For instance, we provide SAP, Oracle DB, VMware and many other business familiar products on top of our cloud. We're also devoting R&D efforts in SDN (Software Defined Network) technology and have been continuously releasing and developing its software platform. Some major network operators in Japan have started to use them for evaluation purpose."

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