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KLab Inc. swings to loss in Q1

KLab Inc. said its first-quarter normalized net income was a loss of ¥7.41 per share, compared with ¥17.16 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 ¥270.6 million, compared with income of ¥636.0 million in the prior-year period.

The normalized profit margin fell to negative 5.6% from 11.3% in the year-earlier period.

Total revenue declined 14.5% year over year to ¥4.82 billion from ¥5.64 billion, and total operating expenses climbed 5.9% year over year to ¥4.89 billion from ¥4.62 billion.

Reported net income totaled a loss of ¥413.0 million, or a loss of ¥11.31 per share, compared to income of ¥425.4 million, or ¥11.48 per share, in the year-earlier period.

As of May 10, US$1 was equivalent to ¥109.05.