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Nextage fiscal Q2 profit climbs YOY

NETAGE Co. Ltd. said its normalized net income for the fiscal second quarter ended May 31 came to ¥4.25 per share, an increase from ¥1.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥272.5 million, an increase from ¥70.6 million in the year-earlier period.

The normalized profit margin rose to 1.8% from 0.6% in the year-earlier period.

Total revenue increased 31.0% year over year to ¥15.33 billion from ¥11.70 billion, and total operating expenses increased 28.9% year over year to ¥14.90 billion from ¥11.56 billion.

Reported net income increased year over year to ¥237.7 million, or ¥3.70 per share, from ¥49.5 million, or 80 sen per share.

As of July 10, US$1 was equivalent to ¥122.69.