CORRECTING and REPLACING Drake Beam Morin-Japan Announces Full Year Results for FY2004.Business Editors CORRECTION...by Drake drake 1. male duck. 2. loliumtemulentum. Beam Morin-Japan TOKYO--(BUSINESS WIRE)--May 18, 2004 In BW5455 issued May 17, 2004: In the table titled, "Consolidated Cash Flows Position," the numbers should read as follows: Cash flows from operating activities -3,017 ----------------------------------------------- Cash flows from investing activities 6 ----------------------------------------------- sted numbers published in previous release: ----------------------------------------------- Cash flows from operating activities -3,065 ----------------------------------------------- Cash flows from investing activities 54 ----------------------------------------------- Also, the numeric numeric see numerical. numeric cluster see ten-key pad. entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. of the table, "Financial Forecasts for Year ending March 31, 2005" has been revised. The corrected release reads: DRAKE BEAM MORIN-JAPAN ANNOUNCES 2003 FULL YEAR RESULTS Drake Beam Morin-Japan ("DBM-J" or the "Company") (JASDAQ Jasdaq See: Japanese Association of Securities Dealers Automated Quotation System : 4688), Japan's leading outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. ("OPC (1) (OpenGL Performance Characterization) A project group within GPC that manages OpenGL benchmarks. OPC endorses the Viewperf and GLperf benchmarks. Viewperf was created by IBM and OPC provides viewsets for it, which are combinations of tests using specific ") company, today announced the results of its operations for the year ended March 31, 2004. The results are unaudited and prepared in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . Consolidated Financial Highlights for Year ended March 31, 2004
(Unit: Million Yen, except EPS)
March 2004 March 2003 YoY
Change
(%)
----------------------------------------------------------------------
Revenue 15,518 10,010 +55.0
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Operating Profit 1,717 3,006 -42.9
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Ordinary Profit 1,607 2,756 -41.7
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Net Profit 800 1,491 -46.3
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EPS 113.76 206.25 -44.8
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Unconsolidated Financial Highlights for Year ended March 31, 2004
(Unit: Million Yen, except EPS) March 2004 March 2003YoY Change
(%)
----------------------------------------------------------------------
Revenue 8,906 9,873 -9.8
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Operating Profit 1,877 2,997 -37.4
----------------------------------------------------------------------
Ordinary Profit 1,877 2,772 -32.3
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Net Profit 1,340 1,510 -11.3
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EPS 190.38 208.90 -8.9
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Consolidated Financial Position (Unit: Million Yen) March 2004 March 2003 -------------------------------------------------------------- Total assets 16,062 21,093 -------------------------------------------------------------- Shareholders' equity 9,161 9,648 -------------------------------------------------------------- Shareholders' equity ratio (%) 57.0 45.7 -------------------------------------------------------------- Shareholders' equity per share (Yen) 1,301 1,365 -------------------------------------------------------------- Consolidated Cash Flows Position (Unit: Million Yen) March 2004 ----------------------------------------------- Cash flows from operating activities -3,017 ----------------------------------------------- Cash flows from investing activities 6 ----------------------------------------------- Cash flows from financing activities -1,053 ----------------------------------------------- Cash and cash equivalents 6,162 ----------------------------------------------- Financial Results by Segment
(Unit: Million Yen) Revenue YoY Operating YoY
Change (%) Income Change
(%)
----------------------------------------------------------------------
Outplacement 8,572 -10.0 1,863 -35.7
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Overseas Training 6,404 NA -152 NA
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Domestic Training 334 -2.9 13 -86.7
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Others 212 44.2 -7 NM
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Financial Forecasts for Year ending March 31, 2005
(Unit: Million Yen) Consolidated YoY Unconsolidated YoY
basis Change basis Change
(%) (%)
----------------------------------------------------------------------
Revenue 14,000 -9.7 7,000 -21.4
----------------------------------------------------------------------
Ordinary Profit 2,500 +55.5 1,870 -0.0
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Net Profit 1,360 +70.0 1,025 -23.5
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For detailed financial tables, please visit our investor relations Investor relations The process by which the corporation communicates with its investors. site at http://www.dbm-j.co.jp (Qualitative information on consolidated operating results) OPC business environment Compared with the previous fiscal year when outplacement services were extensively used among major Japanese corporations in the process of downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing , DBJ-J received very few large contracts this fiscal year. Moreover, price competition intensified in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: in a shrinking OPC market. As a result, new orders and the order backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. for FY2004 decreased to 5,100 million yen (down 53% year-over-year) and 4,496 million yen (down 44% year-over-year), respectively. The company anticipates that the current market downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. will continue over the next year. Revenue Revenue increased 55% year-over-year, mainly because the operating results of Novations, Inc. ("Novations"), a US training subsidiary, were consolidated for the first time. Gross profits Gross profit/sales ratio declined 9.4 points year-over-year due to inclusion of Novations' results and weak OPC orders. SG&A SG&A/sales ratio rose 9.5 points year-over-year reflecting increased expenditure for strengthening the company's management structure and inclusion of Novations. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. Operating income/sales ratio declined 18.9 points mainly due to weak OPC orders. Extraordinary gains/losses Extraordinary gain of 945 million yen was recorded with the sale of investment securities. During the period, the company also recognized an extraordinary loss of 697 million yen, consisting of the following items:
184 million yen Loss on disposal of fixed assets
(closing/downsizing office)
32 million yen Loss on office lease deposit
189 million yen One-time cost in starting
a new compensation scheme
165 million yen Restructuring expenses at Novations
124 million yen Impairment of goodwill at Novations
About DBM-J Drake Beam Morin-Japan Inc. ("DBM-J") is Japan's leading outplacement company, having assisted in finding new employment for approximately 40,000 individuals through its extensive relationships with over 1,710 customer companies in Japan. Founded in 1982, the Company pioneered the outplacement industry in Japan by licensing its brand and operating methodologies from Drake Beam Morin Mo´rin n. 1. (Chem.) A yellow crystalline substance ( fustic rodby> (Chlorophora tinctoria syn. Inc. Since 1997, the DBM-J has been publicly traded on the Japanese OTC market Noun 1. OTC market - a stock exchange where securities transactions are made via telephone and computer rather than on the floor of an exchange over-the-counter market (JASDAQ) under the ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. 4688. Corporate Headquarter head·quar·ter v. head·quar·tered, head·quar·ter·ing, head·quar·ters Usage Problem v.tr. To provide with headquarters: Gate City Osaki Osaki or Ōsaki may refer to:
The statements included above and elsewhere in this news release that are not historical in nature are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." Drake Beam Morin-Japan Inc. cautions readers that forward-looking statements are based on the Company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. |
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