Daily Journal(US:DJCO) Globenewswireยท2024-12-30 23:03Core Insights - Daily Journal Corporation reported consolidated revenues of $69,931,000 for fiscal 2024, an increase of $2,222,000 from $67,709,000 in the previous year, driven by higher license and maintenance fees and public service fees, offset by decreased consulting fees [1] - The company achieved consolidated pretax income of $104,278,000, significantly up from $28,102,000 in the prior fiscal year, with net income reaching $78,113,000 ($56.73 per share) compared to $21,452,000 ($15.58 per share) previously [3] - Marketable securities held by the company were valued at $358,691,000 as of September 30, 2024, with net pretax unrealized gains of $219,597,000 [2] Revenue and Income Analysis - The increase in revenues was primarily attributed to Journal Technologies' license and maintenance fees, which rose by $4,762,000, and other public service fees that increased by $1,577,000, while consulting fees decreased by $4,690,000 [1] - The Traditional Business segment saw a decrease in pretax income by $102,000 to $1,579,000, mainly due to increased merchant discount fees and promotional expenses, despite a revenue increase of $573,000 [6] - Journal Technologies' pretax income decreased by $2,480,000 to $2,491,000, primarily due to increased operating expenses, including personnel costs and third-party hosting fees [6] Non-Operating Income and Tax Provision - Non-operating income increased significantly by $78,758,000 to $100,208,000, largely due to net realized and unrealized gains on marketable securities amounting to $96,142,000 [7] - The company recorded an income tax provision of $26,165,000 on the pretax income of $104,278,000, resulting in an effective tax rate of 25.1% [8]