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Apple International Q2 profit climbs 55.9% YOY

Apple International Co. Ltd. said its second-quarter normalized net income came to ¥13.20 per share, a gain of 55.9% from ¥8.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥164.5 million, an increase of 55.9% from ¥105.5 million in the prior-year period.

The normalized profit margin climbed to 2.6% from 1.0% in the year-earlier period.

Total revenue declined 38.8% on an annual basis to ¥6.30 billion from ¥10.30 billion, and total operating expenses fell 41.1% on an annual basis to ¥5.91 billion from ¥10.04 billion.

Reported net income grew on an annual basis to ¥190.0 million, or ¥15.25 per share, from ¥47.0 million, or ¥3.77 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.