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IMV Corp. fiscal Q1 profit falls YOY

IMV Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to ¥13.04 per share, a decrease of 27.7% from ¥18.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥213.1 million, a decline of 27.8% from ¥295.0 million in the year-earlier period.

The normalized profit margin dropped to 8.5% from 13.9% in the year-earlier period.

Total revenue rose 17.8% year over year to ¥2.51 billion from ¥2.13 billion, and total operating expenses rose 26.1% on an annual basis to ¥2.16 billion from ¥1.71 billion.

Reported net income fell 30.3% from the prior-year period to ¥216.0 million, or ¥13.22 per share, from ¥310.0 million, or ¥18.97 per share.

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