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SMC Corp. fiscal Q1 profit climbs 105.2% YOY

SMC Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥462.96 per share, a gain of 105.2% from ¥225.62 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥31.11 billion, a gain of 105.2% from ¥15.16 billion in the year-earlier period.

The normalized profit margin climbed to 21.2% from 12.9% in the year-earlier period.

Total revenue climbed 24.6% year over year to ¥146.69 billion from ¥117.72 billion, and total operating expenses climbed 23.5% from the prior-year period to ¥100.37 billion from ¥81.27 billion.

Reported net income grew 45.6% year over year to ¥36.19 billion, or ¥538.59 per share, from ¥24.85 billion, or ¥369.86 per share.

As of Aug. 8, US$1 was equivalent to ¥110.77.