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Azearth fiscal Q2 profit climbs 80.0% YOY

Azearth Corp. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to ¥5.55 per share, an increase of 74.9% from ¥3.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.8 million, a gain of 80.0% from ¥18.8 million in the prior-year period.

The normalized profit margin rose to 1.3% from 0.9% in the year-earlier period.

Total revenue rose 21.5% on an annual basis to ¥2.56 billion from ¥2.11 billion, and total operating expenses increased 20.6% year over year to ¥2.51 billion from ¥2.08 billion.

Reported net income rose on an annual basis to ¥56.0 million, or ¥9.07 per share, from ¥21.0 million, or ¥3.55 per share.

As of Dec. 10, US$1 was equivalent to ¥118.76.