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Eurasia Travel fiscal Q1 loss narrows YOY

Eurasia Travel Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of ¥6.44 per share, compared with a loss of ¥7.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥23.8 million, compared with a loss of ¥26.9 million in the prior-year period.

The normalized profit margin fell to negative 2.2% from negative 2.0% in the year-earlier period.

Total revenue declined 21.4% year over year to ¥1.06 billion from ¥1.35 billion, and total operating expenses declined 20.5% year over year to ¥1.10 billion from ¥1.38 billion.

Reported net income totaled a loss of ¥26.0 million, or a loss of ¥7.05 per share, compared to a loss of ¥28.0 million, or a loss of ¥7.59 per share, in the year-earlier period.

As of Feb. 10, US$1 was equivalent to ¥114.87.