Key Coffee Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥16.37 per share, a decline of 24.8% from ¥21.76 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥371.3 million, a decline of 24.8% from ¥493.6 million in the prior-year period.
The normalized profit margin fell to 2.7% from 3.5% in the year-earlier period.
Total revenue came to ¥13.88 billion, compared with ¥13.96 billion in the prior-year period, and total operating expenses increased on an annual basis to ¥13.40 billion from ¥13.22 billion.
Reported net income decreased 36.3% year over year to ¥354.0 million, or ¥15.61 per share, from ¥556.0 million, or ¥24.51 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
