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Stream Co. swings to profit in fiscal Q1

Stream Co. Ltd. said its normalized net income for the fiscal first quarter ended April 30 amounted to ¥2.52 per share, compared with a loss of ¥4.10 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥61.5 million, compared with a loss of ¥81.5 million in the year-earlier period.

The normalized profit margin rose to 1.0% from negative 2.0% in the year-earlier period.

Total revenue rose 52.1% year over year to ¥6.22 billion from ¥4.09 billion, and total operating expenses increased 44.9% on an annual basis to ¥6.13 billion from ¥4.23 billion.

Reported net income totaled ¥126.4 million, or ¥5.19 per share, compared to a loss of ¥131.0 million, or a loss of ¥6.58 per share, in the prior-year period.

As of June 13, US$1 was equivalent to ¥102.08.