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Twinbird swings to profit in fiscal Q2

Twinbird Corp. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥7.59 per share, compared with a loss of 14 sen per share in the second quarter ended Sept. 25, 2013.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥66.3 million, compared with a loss of ¥1.3 million in the second quarter ended Sept. 25, 2013.

The normalized profit margin climbed to 2.3% from negative 0.0% in the year-earlier period.

Total revenue climbed 8.5% year over year to ¥2.92 billion from ¥2.70 billion, and total operating expenses increased 6.2% on an annual basis to ¥2.85 billion from ¥2.68 billion.

Reported net income increased from the prior-year period to ¥68.0 million, or ¥7.79 per share, from ¥3.0 million, or 34 sen per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.