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Pacific Net fiscal Q1 profit climbs 53.1% YOY

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Pacific Net fiscal Q1 profit climbs 53.1% YOY

Pacific Net Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to ¥14.98 per share, a gain of 53.1% from ¥9.78 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥77.5 million, an increase of 53.1% from ¥50.6 million in the year-earlier period.

The normalized profit margin climbed to 6.7% from 5.6% in the year-earlier period.

Total revenue grew 27.2% year over year to ¥1.15 billion from ¥904.0 million, and total operating expenses grew 24.5% from the prior-year period to ¥1.03 billion from ¥827.0 million.

Reported net income rose 71.4% on an annual basis to ¥84.0 million, or ¥16.23 per share, from ¥49.0 million, or ¥9.47 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.