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Toshiba fiscal Q2 profit climbs 49.9% YOY

Toshiba Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥13.08 per share, a gain of 49.9% from ¥8.73 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.40 billion, an increase of 49.9% from ¥36.97 billion in the prior-year period.

The normalized profit margin increased to 3.4% from 2.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.623 trillion from ¥1.700 trillion, and total operating expenses climbed 5.8% year over year to ¥1.702 trillion from ¥1.609 trillion.

Reported net income increased 38.2% from the prior-year period to ¥49.56 billion, or ¥11.71 per share, from ¥35.87 billion, or ¥8.47 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.