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Tokyo Electron fiscal Q1 profit falls YOY

Tokyo Electron Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥91.47 per share, a decrease of 13.5% from ¥105.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.04 billion, a decline of 20.3% from ¥18.87 billion in the prior-year period.

The normalized profit margin fell to 10.2% from 12.1% in the year-earlier period.

Total revenue decreased 5.0% year over year to ¥147.98 billion from ¥155.76 billion, and total operating expenses came to ¥125.88 billion, compared with ¥125.48 billion in the year-earlier period.

Reported net income decreased 34.9% on an annual basis to ¥12.69 billion, or ¥77.16 per share, from ¥19.48 billion, or ¥109.22 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.