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Escrit fiscal Q1 profit climbs 50.3% YOY

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Escrit fiscal Q1 profit climbs 50.3% YOY

Escrit Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥12.74 per share, an increase of 51.8% from ¥8.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥151.3 million, an increase of 50.3% from ¥100.6 million in the year-earlier period.

The normalized profit margin climbed to 3.2% from 2.9% in the year-earlier period.

Total revenue rose 37.5% year over year to ¥4.69 billion from ¥3.41 billion, and total operating expenses grew 36.8% on an annual basis to ¥4.42 billion from ¥3.23 billion.

Reported net income grew 54.1% year over year to ¥144.5 million, or ¥12.17 per share, from ¥93.7 million, or ¥7.82 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.