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Mars Engineering fiscal Q2 profit falls YOY

Mars Engineering Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥40.87 per share, a decrease from ¥42.95 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥742.5 million, a decline of 9.2% from ¥818.1 million in the prior-year period.

The normalized profit margin dropped to 11.1% from 13.2% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to ¥6.67 billion from ¥6.19 billion, and total operating expenses rose 8.8% from the prior-year period to ¥5.49 billion from ¥5.04 billion.

Reported net income decreased 19.7% from the prior-year period to ¥721.0 million, or ¥39.69 per share, from ¥898.0 million, or ¥47.14 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.