Satellite broadcaster Wowow Inc. said Thursday it swung back into the black in the fiscal first half to Sept. 30 due largely to cost cuts.
In its consolidated earnings report, the company posted a net profit of 1.4 billion yen, a sharp reversal from a 2.32 billion yen loss a year earlier, and a pretax profit of 1.73 billion yen against a loss of 2.13 billion yen.
But revenues edged down 0.6 percent from a year earlier to 31.71 billion yen as cancellations to its broadcasting services rose, the company said.
For the full year through March 31, Wowow forecasts a group net profit of 350 million yen and a pretax profit of 720 million yen on revenues of 63.2 billion yen.
In the previous fiscal year, the company logged a group net loss of 2.14 billion yen and a pretax loss of 1.95 billion yen on revenues of 65.34 billion yen.