ACCA Networks’ 9M revenues down, but net income doubles

16 Nov 2007

Japanese broadband service provider ACCA Networks reported consolidated financial revenues of JPY26.75 billion in the first nine months of 2007, down 9% year-on-year from JPY29.39 billion, but said that net income doubled from JPY852 million to JPY1.73 billion ‘because of the extraordinary profit from the return of the entrusted government’s portion of the welfare pension fund’. ACCA’s Corporate segment recorded sales of JPY5.14 billion in the period under review, up 0.1% on the first nine months of 2006, and said it had 50,700 subscribers at the same date, up from 47,000 a year earlier. The operator’s Consumer segment reported a 14% year-on-year decline in revenues to JPY20.62 billion and said it had 995,000 subscribers by the start of October, down from 1.125 million at end-September 2006. Other segment sales came in at JPY994 million, up 241.8% y-o-y. ACCA reiterated its full-year guidance for the year to 31 December 2007, forecasting sales of JPY36.6 billion, operating profits of JPY1.9 billion and net income of JPY1.4 billion.