Meito Sangyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥2.31 per share, compared with ¥3.42 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥38.8 million, compared with income of ¥57.5 million in the prior-year period.
The normalized profit margin declined to negative 0.9% from 1.5% in the year-earlier period.
Total revenue increased 8.7% year over year to ¥4.22 billion from ¥3.88 billion, and total operating expenses climbed 9.4% from the prior-year period to ¥4.53 billion from ¥4.14 billion.
Reported net income came to a loss of ¥65.0 million, or a loss of ¥3.87 per share, compared to income of ¥20.0 million, or ¥1.19 per share, in the prior-year period.
As of Aug. 12, US$1 was equivalent to ¥102.19.
