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SMC Corp. fiscal Q1 profit falls YOY

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SMC Corp. fiscal Q1 profit falls YOY

SMC Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥314.98 per share, compared with ¥313.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.25 billion, compared with ¥21.42 billion in the prior-year period.

The normalized profit margin dropped to 19.1% from 22.1% in the year-earlier period.

Total revenue climbed 15.0% on an annual basis to ¥111.32 billion from ¥96.77 billion, and total operating expenses climbed 12.2% from the prior-year period to ¥77.67 billion from ¥69.22 billion.

Reported net income came to ¥24.60 billion, or ¥364.70 per share, compared with ¥24.50 billion, or ¥358.53 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.