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Lobtex fiscal Q1 profit falls YOY

Lobtex Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥27.50 per share, a decrease of 49.1% from ¥54.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.9 million, a decline of 49.1% from ¥50.9 million in the year-earlier period.

The normalized profit margin dropped to 2.2% from 4.2% in the year-earlier period.

Total revenue totaled ¥1.20 billion, compared with ¥1.21 billion in the prior-year period, and total operating expenses climbed on an annual basis to ¥1.14 billion from ¥1.10 billion.

Reported net income decreased 43.9% year over year to ¥23.0 million, or ¥24.44 per share, from ¥41.0 million, or ¥43.57 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.