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Fujitsu swings to profit in fiscal Q1

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Fujitsu swings to profit in fiscal Q1

Fujitsu Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥1.04 per share, compared with a loss of ¥3.44 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.13 billion, compared with a loss of ¥7.11 billion in the prior-year period.

The normalized profit margin climbed to 0.2% from negative 0.7% in the year-earlier period.

Total revenue decreased 6.5% on an annual basis to ¥922.64 billion from ¥986.55 billion, and total operating expenses decreased 8.0% on an annual basis to ¥917.69 billion from ¥997.77 billion.

Reported net income came to ¥2.15 billion, or a loss of 71 sen per share, compared with a loss of ¥14.14 billion, or a loss of ¥6.84 per share, in the prior-year period.

As of Aug. 4, US$1 was equivalent to ¥110.87.