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CRI Middleware fiscal Q1 profit falls YOY

CRI Middleware Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to ¥1.94 per share, a decrease of 76.8% from ¥8.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.4 million, a decrease of 75.4% from ¥38.1 million in the prior-year period.

The normalized profit margin dropped to 3.8% from 13.2% in the year-earlier period.

Total revenue decreased 13.5% on an annual basis to ¥250.0 million from ¥289.0 million, and total operating expenses grew on an annual basis to ¥226.0 million from ¥221.0 million.

Reported net income decreased 71.7% from the prior-year period to ¥10.6 million, or ¥2.19 per share, from ¥37.5 million, or ¥8.21 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.