Belc Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥57.06 per share, a gain of 17.7% from ¥48.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.19 billion, a gain of 17.7% from ¥1.01 billion in the year-earlier period.

The normalized profit margin rose to 3.2% from 2.9% in the year-earlier period.

Total revenue climbed 8.3% year over year to ¥37.78 billion from ¥34.90 billion, and total operating expenses climbed 7.7% from the prior-year period to ¥35.93 billion from ¥33.37 billion.

Reported net income grew 20.3% on an annual basis to ¥1.17 billion, or ¥55.88 per share, from ¥969.0 million, or ¥46.44 per share.

As of July 11, US$1 was equivalent to ¥101.30.