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Fixstars fiscal Q1 profit falls YOY

Fixstars Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was ¥3.31 per share, a decrease of 17.5% from ¥4.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥112.5 million, a decrease of 16.7% from ¥135.0 million in the prior-year period.

The normalized profit margin dropped to 10.6% from 16.2% in the year-earlier period.

Total revenue climbed 27.0% on an annual basis to ¥1.06 billion from ¥834.0 million, and total operating expenses grew 41.7% from the prior-year period to ¥877.0 million from ¥619.0 million.

Reported net income declined 11.0% from the prior-year period to ¥128.8 million, or ¥3.79 per share, from ¥144.7 million, or ¥4.30 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.