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

Stocks in this article: IIJI

TOKYO, Feb. 7, 2014 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. ("IIJ") (Nasdaq:IIJI) (TSE:3774) today announced its consolidated financial results for the nine months of the fiscal year ending March 31, 2014 (from April 1, 2013 to December 31, 2013, "3Q13"). 1

Highlights of 3Q13 Financial Results 
Revenues JPY82,746 million (up 7.9% YoY)  
Operating Income JPY4,211 million (down 16.5% YoY)  
Net Income attributable to IIJ JPY2,924 million (down 6.0% YoY)  
Revised Full FY2013 Financial Targets
▪  We revised FY2013 financial targets due to the weaker than expected recurring revenues which mainly came from certain large customers. The operating income was impacted accordingly as the costs for recurring revenues are not directly correlated with revenue trend.
  Previous Target Revised Target (Feb. 7)
 Revenues JPY117,000 million JPY114,000 million
 Operating Income JPY9,400 million JPY6,000 million
 Net Income attributable to IIJ JPY6,000 million JPY4,700 million

Overview of 9 months for FY2013 Financial Results and Business Outlook

"We recognize the coming several years to be remarkable period for IIJ to leap into the next level of business phase. The continuous technological innovation of network infrastructure, the ongoing development of the widely-used smart phones and other portable devises, and the evolving IT needs as seen with the growing concept of big data should promote the further adoption of network and cloud usages by Japanese enterprises and governmental organization supported by the returned demand on systems investment along with the Japanese economic recovery. To grasp these favorable growth opportunities, we're enhancing our business investments more than ever. This fiscal year, we're increasing the procurement number of employees and aggressively investing in cloud and overseas businesses in particular," said Koichi Suzuki, Founder and CEO of IIJ.

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