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Ten Allied fiscal Q1 profit climbs 78.3% YOY

Ten Allied Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥1.97 per share, a gain of 78.3% from ¥1.11 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.3 million, a gain of 78.3% from ¥28.8 million in the year-earlier period.

The normalized profit margin rose to 1.3% from 0.8% in the year-earlier period.

Total revenue climbed on an annual basis to ¥3.94 billion from ¥3.79 billion, and total operating expenses rose year over year to ¥3.86 billion from ¥3.74 billion.

Reported net income rose on an annual basis to ¥58.0 million, or ¥2.23 per share, from ¥16.0 million, or 62 sen per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.