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Euglena fiscal Q1 profit falls YOY

Euglena Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to 56 Japanese sen per share, a decline of 6.5% from 60 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 ¥46.9 million, a decline of 5.1% from ¥49.4 million in the prior-year period.

The normalized profit margin dropped to 2.0% from 4.3% in the year-earlier period.

Total revenue grew year over year to ¥2.34 billion from ¥1.16 billion, and total operating expenses increased year over year to ¥2.31 billion from ¥1.10 billion.

Reported net income increased on an annual basis to ¥110.5 million, or ¥1.32 per share, from ¥53.6 million, or 65 sen per share.

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