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Metalart fiscal Q1 profit falls YOY

Metalart Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥16.44 per share, a decline of 19.0% from ¥20.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥259.1 million, a decrease of 19.0% from ¥320.0 million in the prior-year period.

The normalized profit margin declined to 4.2% from 5.0% in the year-earlier period.

Total revenue fell on an annual basis to ¥6.20 billion from ¥6.40 billion, and total operating expenses declined year over year to ¥5.81 billion from ¥5.92 billion.

Reported net income declined 26.6% from the prior-year period to ¥226.0 million, or ¥14.34 per share, from ¥308.0 million, or ¥19.54 per share.

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