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Car Mate swings to loss in fiscal Q1

Car Mate Mfg. Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥9.54 per share, compared with 8 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥72.5 million, compared with income of ¥625,000 in the year-earlier period.

The normalized profit margin dropped to negative 1.9% from 0.0% in the year-earlier period.

Total revenue declined year over year to ¥3.85 billion from ¥4.03 billion, and total operating expenses decreased from the prior-year period to ¥3.95 billion from ¥4.04 billion.

Reported net income came to a loss of ¥95.0 million, or a loss of ¥12.50 per share, compared to a loss of ¥6.0 million, or a loss of 79 sen per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to ¥102.12.