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Eurasia Travel swings to profit in fiscal Q2

Eurasia Travel Co. Ltd. said its normalized net income for the fiscal second quarter ended March 31 was ¥6.61 per share, compared with a loss of ¥8.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.4 million, compared with a loss of ¥30.6 million in the prior-year period.

The normalized profit margin climbed to 1.7% from negative 2.0% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.46 billion from ¥1.52 billion, and total operating expenses decreased 9.8% on an annual basis to ¥1.42 billion from ¥1.57 billion.

Reported net income came to ¥22.0 million, or ¥5.96 per share, compared to a loss of ¥39.0 million, or a loss of ¥10.57 per share, in the prior-year period.

As of May 12, US$1 was equivalent to ¥108.72.