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OMRON fiscal Q1 profit falls YOY

OMRON Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥31.85 per share, a decline of 36.3% from ¥50.00 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.81 billion, a decline of 37.3% from ¥10.86 billion in the year-earlier period.

The normalized profit margin fell to 3.7% from 5.3% in the year-earlier period.

Total revenue declined 10.1% on an annual basis to ¥184.55 billion from ¥205.39 billion, and total operating expenses decreased 7.6% on an annual basis to ¥174.75 billion from ¥189.03 billion.

Reported net income decreased 37.4% year over year to ¥7.93 billion, or ¥37.08 per share, from ¥12.67 billion, or ¥58.30 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.