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Toshiba fiscal Q1 profit climbs 32.4% YOY

Toshiba Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥3.52 per share, a gain of 32.4% from ¥2.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.92 billion, an increase of 32.4% from ¥11.27 billion in the year-earlier period.

The normalized profit margin rose to 1.1% from 0.8% in the year-earlier period.

Total revenue rose on an annual basis to ¥1.414 trillion from ¥1.370 trillion, and total operating expenses climbed from the prior-year period to ¥1.366 trillion from ¥1.344 trillion.

Reported net income grew 30.6% from the prior-year period to ¥16.73 billion, or ¥3.95 per share, from ¥12.81 billion, or ¥3.03 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.