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Fujitsu swings to profit in fiscal Q1

Fujitsu Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥3.52 per share, compared with a loss of ¥7.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.29 billion, compared with a loss of ¥14.56 billion in the prior-year period.

The normalized profit margin climbed to 0.7% from negative 1.5% in the year-earlier period.

Total revenue climbed 6.9% year over year to ¥1.069 trillion from ¥999.23 billion, and total operating expenses rose from the prior-year period to ¥1.061 trillion from ¥1.022 trillion.

Reported net income came to ¥6.89 billion, or ¥3.33 per share, compared with a loss of ¥21.98 billion, or a loss of ¥10.62 per share, in the prior-year period.

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