Ogura Clutch Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥11.28 per share, a decline of 9.2% from ¥12.42 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥169.0 million, a decline of 9.3% from ¥186.3 million in the prior-year period.
The normalized profit margin dropped to 1.8% from 2.0% in the year-earlier period.
Total revenue came to ¥9.43 billion, compared with ¥9.50 billion in the year-earlier period, and total operating expenses declined from the prior-year period to ¥9.08 billion from ¥9.33 billion.
Reported net income fell 41.5% from the prior-year period to ¥117.0 million, or ¥7.81 per share, from ¥200.0 million, or ¥13.34 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
