ACCA Q1 profits down 27%, revenues drop 12%

4 Jun 2008

Japanese broadband service provider ACCA Networks reported consolidated financial revenues of JPY8.06 billion (USD77.04 million) for the period January-March 2008, down 11.7% from JPY9.14 billion in the corresponding period of 2007. Group operating profit slipped 16.8% year-on-year from JPY851 million to JPY708 million, while net income slumped 26.7% from JPY860 million to JPY630 million. ACCA’s consumer division posted quarterly sales of JPY5.98 billion, down 17.1% y-o-y, and its corporate arm contributed nearly JPY1.82 billion, a rise of 5.4% in the year. ACCA Networks is forecasting full-year sales of JPY31 billion for the period ending 31 December, as well as operating profit of JPY1.9 billion and net profits of JPY1.4 billion.