IIJ reports 6.7% rise in Q1 net income

11 Aug 2009

Japanese internet connectivity and network solutions provider Initiative Japan Inc (IIJ) has reported a 6.7% year-on-year increase in profits for the first quarter ended 30 June 2009, helped by forex gains, lower interest expenses and narrower losses on the write-down of investments. Net income for the period under review rose to JPY180.48 million (USD1.87 million), from JPY169.08 million in 1Q08, although revenues declined 3% to JPY15.84 billion, it said. IIJ added that whilst recurring revenues for the quarter climbed 6.4% year-on-year and accounted for 87.7% of revenue in 1Q09, sales derived from systems construction slipped due to poor IT-related investments in its home market. Looking ahead, IIJ reiterated its earnings and revenue outlook for the first half of 2009 and the full year.

Japan, Internet Initiative Japan (IIJ)