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Optoelectronics fiscal Q1 profit falls YOY

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Optoelectronics fiscal Q1 profit falls YOY

Optoelectronics Co.Ltd. said its normalized net income for the fiscal first quarter ended Feb. 29 amounted to ¥14.67 per share, a decline from ¥14.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥90.6 million, a decrease of 7.1% from ¥97.5 million in the prior-year period.

The normalized profit margin declined to 4.8% from 5.5% in the year-earlier period.

Total revenue increased 5.0% on an annual basis to ¥1.88 billion from ¥1.79 billion, and total operating expenses increased on an annual basis to ¥1.69 billion from ¥1.64 billion.

Reported net income fell 28.7% from the prior-year period to ¥67.0 million, or ¥10.84 per share, from ¥94.0 million, or ¥14.29 per share.

As of March 24, US$1 was equivalent to ¥112.66.